// WHSmith group sales rose ahead of pre-Covid levels during its second half
// High street sales sat at 80% of 2019 revenue after it was hit following the
WHSmith group sales surged ahead of pre-Covid levels in its second half but its high street arm was “adversely impacted” after online greetings card business FunkyPigeon.com was victim to a cyber security incident back in April.
Group revenue was at 112% of 2019 levels in the half to 27 August, bolstered by the return of passengers to its travel division, which achieved sales at 129% of 2019 levels.
However, although it performed in line with expectations, its high street sales were at 80% of 2019 revenues.
Orders from WHSmith’s subsidiary FunkyPigeon.com were suspended after the cyber attack in April although it assured shoppers that customer payment data, including bank account or credit card details, had not been placed at risk.
WHSmith expects profit in its year to 31 August to be in line with the upgraded expectations it unveiled following the third quarter.
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The retailer said it would continue to focus on cost efficiencies in its high street business and has identified further “significant cost saving opportunities” in rent reductions.
Meanwhile, WHSmith is embarking on an aggressive expansion plan in its travel business as it looks to benefit from “significant growth opportunities across the global travel retail market”.
It has won more than 130 stores that are yet to open, including six new stores in Brussels airport, and stores in Salt Lake City and Los Angeles airports, with more tenders ongoing.
