UK retail giant WHSmith plans to expand shop-in-shop operations for Christmas Fer House
Pre-tax profits at UK gift retailer WHSmith Group rose slightly as travel sales continued to soar.
For the year to August 31, 2024
WHSmith's annual profits rose by £1m to £46m, with overall sales up 7%, driven by a 10% increase in its travel souvenirs.
Profits at the company's travel division rose from £47m to £50m, however, profits at its high street retail business slipped from £24m to £22m.
Carl Cowling, chief executive of WHSmith, says: “We ended the financial year in a strong position, with results in line with our expectations and good growth in our travel business. Our UK division performed particularly well during the peak summer trading period.”
Later this year, WHSmith opened 30 Toys “R” Us shop-in-shops in its stores and plans to open 37 more by Christmas 2024, bringing the total to 76.
WHSmith opened its first Toys R Us shop-in-shop in the UK in 2023.
WHSmith will continue to open an average of three Toys R Us shop-in-shops per week in the run-up to Christmas, with the next round of store openings set to begin on September 28th.
Sean Toal, WHSmith's High Street Managing Director, said, “Toys R Us first came to the UK nearly 40 years ago and we are proud to be the UK stewards of this much-loved brand.
“Last year, we had a lot of new stores
all had long lines around the block, which tells you how much people love to see Toys R Us back again.”
He continued, “But our work isn't done yet, and I'm excited to bring the magic of Toys R Us to even more customers in the coming months in preparation for the most wonderful time of the year - Christmas!”
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