WH Smith has said it wants to expand its estate, despite the uncertain economic picture.
Announcing its preliminary results this morning, the retailer said “while the broader global economy remains uncertain, the group is well positioned to capitalise on the ongoing recovery in our key markets and take advantage of the many new store opening opportunities ahead.”
Group chief executive Carl Cowling said: “Across the globe, we continue to roll out our travel stores across all our formats. Since the start of the financial year, we have won 74 stores, including a significant tender win in Spain, bringing the total pipeline to more than 125 stores. We expect more space to become available, particularly in North America, as our markets continue to recover.”
He added that the InMotion brand, which currently has 28 stores in the UK, also had “significant potential” to grow.
Over the six months to February, group pre-tax profit was £24m, up from a £17m loss over the same period in 2021.
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