Latest news with #Hobbycraft-owner
Fashion Network
6 days ago
- Business
- Fashion Network
UK's WH Smith posts Q3 sales rise on strong travel demand
British retailer WH Smith on Wednesday reported a 5% rise in total like-for-like revenue for the third quarter, with North America up 2%, driven by travel demand that lifted sales across its product range despite ongoing macroeconomic uncertainties. The pickup in sales comes amid concerns over North American travel at a time when U.S. tariffs have led to global turmoil and muted growth prospects for companies. Still, WH Smith said it expects steady travel demand, banking on a strong summer to drive footfall in transit areas, and maintained its annual forecast, saying it was well positioned for the peak summer period. In contrast, airport food outlet operator SSP Group recently flagged heightened uncertainty, particularly in its North America business. "Although there is still a level of macro uncertainty regarding the U.S., in our view, the Q3 North America LFL performance should ease investor concerns in the near term and reassure that the U.S. is not currently experiencing a dramatic slowdown," said analysts at J.P. Morgan. WH Smith, a more than 230-year-old brand, operates about 1,200 stores in airports and train stations across 32 countries. The company sold its UK high street business to Hobbycraft-owner Modella Capital earlier this year to position itself as a pure-play travel retailer. The company reported a 7% rise in total revenue on a constant currency basis for the 13-week period ending May 31. It also opened 10 new stores in North America during the quarter. Shares were up 2.9% at 1,054 pence on Wednesday. However, the stock has fallen around 14% so far this year.
Fashion Network
7 days ago
- Business
- Fashion Network
UK's WH Smith posts Q3 sales rise on strong travel demand
In contrast, airport food outlet operator SSP Group recently flagged heightened uncertainty, particularly in its North America business. "Although there is still a level of macro uncertainty regarding the U.S., in our view, the Q3 North America LFL performance should ease investor concerns in the near term and reassure that the U.S. is not currently experiencing a dramatic slowdown," said analysts at J.P. Morgan. WH Smith, a more than 230-year-old brand, operates about 1,200 stores in airports and train stations across 32 countries. The company sold its UK high street business to Hobbycraft-owner Modella Capital earlier this year to position itself as a pure-play travel retailer. The company reported a 7% rise in total revenue on a constant currency basis for the 13-week period ending 31 May. It also opened 10 new stores in North America during the quarter. Shares were up 2.9% at 1,054 pence on Wednesday. However, the stock has fallen around 14% so far this year.
Fashion Network
7 days ago
- Business
- Fashion Network
UK's WH Smith posts Q3 sales rise on strong travel demand
British retailer WH Smith on Wednesday reported a 5% rise in total like-for-like revenue for the third quarter, with North America up 2%, driven by travel demand that lifted sales across its product range despite ongoing macroeconomic uncertainties. The pickup in sales comes amid concerns over North American travel at a time when U.S. tariffs have led to global turmoil and muted growth prospects for companies. Still, WH Smith said it expects steady travel demand, banking on a strong summer to drive footfall in transit areas, and maintained its annual forecast, saying it was well positioned for the peak summer period. In contrast, airport food outlet operator SSP Group recently flagged heightened uncertainty, particularly in its North America business. "Although there is still a level of macro uncertainty regarding the U.S., in our view, the Q3 North America LFL performance should ease investor concerns in the near term and reassure that the U.S. is not currently experiencing a dramatic slowdown," said analysts at J.P. Morgan. WH Smith, a more than 230-year-old brand, operates about 1,200 stores in airports and train stations across 32 countries. The company sold its UK high street business to Hobbycraft-owner Modella Capital earlier this year to position itself as a pure-play travel retailer. The company reported a 7% rise in total revenue on a constant currency basis for the 13-week period ending May 31. It also opened 10 new stores in North America during the quarter. Shares were up 2.9% at 1,054 pence on Wednesday. However, the stock has fallen around 14% so far this year.
Fashion Network
7 days ago
- Business
- Fashion Network
UK's WH Smith posts Q3 sales rise on strong travel demand
British retailer WH Smith on Wednesday reported a 5% rise in total like-for-like revenue for the third quarter, with North America up 2%, driven by travel demand that lifted sales across its product range despite ongoing macroeconomic uncertainties. The pickup in sales comes amid concerns over North American travel at a time when U.S. tariffs have led to global turmoil and muted growth prospects for companies. Still, WH Smith said it expects steady travel demand, banking on a strong summer to drive footfall in transit areas, and maintained its annual forecast, saying it was well positioned for the peak summer period. In contrast, airport food outlet operator SSP Group recently flagged heightened uncertainty, particularly in its North America business. "Although there is still a level of macro uncertainty regarding the U.S., in our view, the Q3 North America LFL performance should ease investor concerns in the near term and reassure that the U.S. is not currently experiencing a dramatic slowdown," said analysts at J.P. Morgan. WH Smith, a more than 230-year-old brand, operates about 1,200 stores in airports and train stations across 32 countries. The company sold its UK high street business to Hobbycraft-owner Modella Capital earlier this year to position itself as a pure-play travel retailer. The company reported a 7% rise in total revenue on a constant currency basis for the 13-week period ending May 31. It also opened 10 new stores in North America during the quarter. Shares were up 2.9% at 1,054 pence on Wednesday. However, the stock has fallen around 14% so far this year.
Yahoo
28-03-2025
- Business
- Yahoo
WH Smith name to disappear from High Street after sale
The WH Smith name is set to disappear from UK High Streets after 233 years after the firm agreed to sell its shops to Hobbycraft-owner Modella Capital. The sale does not include the WH Smith brand, its travel shops at airports and railway stations or its outlets in hospitals. The new owner will rebrand the network of High Street news and stationery outlets as TGJones, marking an end for WH Smith which set up its first shop in London in 1792. Modella Capital will take over 480 stores and 5,000 staff. WH Smiths has been a staple of UK High Streets since the Victorian era when it became the country's principal newspaper distributor. It still sells papers and magazines, alongside books, sweets and snacks and art supplies. WH Smiths group chief executive Carl Cowling said the £76m sale, was "a pivotal moment" for the company, which would now focus exclusively on the travel-related side of the business. "High Street is a good business; it is profitable and cash generative with an experienced and high-performing management team," he said. "However, given our rapid international growth, now is the right time for a new owner to take the High Street business forward." The travel division operates more than 1,200 stores in 32 countries. This breaking news story is being updated and more details will be published shortly. Please refresh the page for the fullest version. You can receive Breaking News on a smartphone or tablet via the BBC News App. You can also follow @BBCBreaking on X to get the latest alerts. WH Smith says post offices to stay if sale goes ahead WH Smith High Street sales fall amid talks to sell stores
