WH Smith will open 110 stores in travel centers and hospitals – more than 50 of which will be in the US

RETAILER WH Smith plans to open 110 new stores this year at airports, train stations and hospitals.

More than 50 of these will be in the US and 15 in Britain.

The stationer already has 580 locations in various worldwide travel locations.

Travel sales in Britain grew by 15 percent in the 20 weeks to January, but it is in the US where the chain has the potential to flourish.

Chief executive Carl Cowling said: “I am particularly excited about the substantial growth opportunities that exist [the US] market.

“The group is in its strongest position ever as a global travel retailer.”

Richard Hunter, head of markets at Interactive Investor, said: “WHSmith benefits from 'regular' customers in many key locations such as train stations, motorway services, hospitals and especially airports.

“The return of near-normality in air travel has been a particular boon to this segment of the group.”

Sales on the British shopping streets did less well and fell by four percent.

As a result, the group aims to reduce costs by up to £10 million.

Russ Mould, investment director at AJ Bell, said: “As long as people buy the occasional magazine, paperbacks, stationery, wrapping paper or board games, WHSmith stores have a good chance of survival.”

DIY SHARE

Shares in DIY chain Wickes rose 9 percent yesterday after the company said trading demand was improving and profits would exceed expectations.

CEO David Wood praised “robust performance” despite an overall 0.3 percent decline in sales in 2023.

Sales were hit by poor demand for larger projects and IT disruption.

HOLIDAY RISING

HOLIDAY company On The Beach said the value of holidays rose by more than a quarter last year, with long-haul flights doing well.

The total transaction value increased by 86 percent compared to a year earlier, which should bring profits to £30 million.

Boss Shaun Morton said: “Consumers are still prioritizing holidays.”