Stationery retailer, WH Smith has said that it has recorded a four per cent fall in like-for-like sales during the 20 weeks to January 18 but it managed to record profits.

The retailer has been able to record rising profits amid falling sales through controlling costs.  The company has said that it reported strong sales at its travel outlets over Christmas and also said that it is expecting further progress this year even as it's like-for-like sales is falling.  WH Smith's travel outlets recorded a fall of one per cent in like-for-like sales but were better than a fall of 2 per cent recorded in the previous 10 weeks.

Chief executive Stephen Clarke is working to continue with the cost-cutting strategy and also expand overseas to offset declining walk-ins in the country. "Looking ahead, we continue to plan cautiously and manage the business tightly while investing in new opportunities for future growth.  We are confident in making further progress in the year."

Shares in WH Smith rose more than 3pc to £10.49 on Wednesday.

Source: Top News