WH Smith 14-Week Comparable Sales Fall 4%;Cautious On Spending

8th Jun 2010 07:15

LONDON (Dow Jones)--U.K. magazine and book retailer WH Smith PLC (SMWH.LN) Tuesday said sales at its stores open more than a year fell 4% in the first 14 weeks of its second half and it remains cautious about consumer spending for the rest of the year. The company said total group sales fell 3% in the 14 weeks to June 5, with comparable sales at its high-street stores dropping 4% in the period. The company said comparable sales at its travel stores, located in airports and train stations, fell 4% in 14 weeks. Excluding the impact of disruption caused by the spread of volcanic ash from Iceland, which temporarily halted most flights in and out of Europe, comparable sales at these concessions fell 2%. It said that while airport passenger numbers have remained soft, it continues to outperform. WH Smith said it continues to generate high levels of cash and that its financial position is in line with market expectations, although it didn't specify figures. While the group is cautious about consumer spending, it remains confident about the outcome for the full-year. -By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; [email protected] (END) Dow Jones Newswires June 08, 2010 02:15 ET (06:15 GMT)