For the six months to February 29, UK retail group WH Smith has reported 11% growth in pre-tax profit. In a Business Matters report is this:
It comes on the back of an improved full year performance last year, in which adult colouring-in books were singled out a huge trend. “Colour therapy”, as WH Smith refers to it, continues to be a huge driver of sales.
I was in several WH Smith stores in the UK a few weeks ao and note they continue to devote considerable floor space to this segment.
The BBC has reported overnight an expansion of Post Office operation into 61 more WH Smith stores in the UK taking the total number to close to 200. The BBC story includes this:
Post Office chief executive Paula Vennells said: “We know that people place huge importance on the presence of a Post Office branch on their High Street.
“Our collaboration with WH Smith will help to secure this, as well as bring new investment into the network.”
I could not find anything in the profit announcement about Australia other than a note about growth in numbers of stores. In Australia, WH Smith owns Supanews, Kennys Cardiology, Wild Card and Gifts and their own branded businesses.
No sign of real progress in SA. There is a WHSmith at the airport, no others to my knowledge. One Wild store recently closed with another for sale at stock value, which does not send a good message if they are hoping to build the brand here. Not on their priority list……yet!!
Colin Wild lost their group manager a couple of months ago. I suspect things will change for the group once they settle leadership matters.