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WH Smith (SMWH) investor relations material
WH Smith Trading update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for the 14 weeks to 6 June 2026 increased by 5% year-over-year on a constant currency basis, with like-for-like (LFL) revenue up 2% versus the prior year.
Ongoing restructuring plans are progressing, with a focus on cost and cash discipline.
A proposed placing of new ordinary shares aims to strengthen the capital position and support ongoing transformation.
Financial highlights
Total UK revenue rose 5% year-over-year, with LFL revenue up 2%.
North America revenue increased 10% year-over-year on a constant currency basis, but LFL revenue declined 1%.
Rest of the World (ROW) revenue decreased 2% year-over-year on a constant currency basis, but LFL revenue rose 3%.
Outlook and guidance
FY26 Headline Group profit before tax and non-underlying items expected to be £75m–£90m.
North America FY26 revenue growth projected at 4%–6% with a trading profit margin of approximately 5%.
Assumptions include continued weak consumer demand, no near-term improvement in confidence, and stable jet fuel supplies.
Trading profit is expected to be heavily weighted to the final quarter.
- Revenue up 5%, profit down to £3m; dividend suspended, debt reduction prioritized.SMWH
H1 202623 Apr 2026 - Revenue up 5% year-over-year; strong North America growth; full-year guidance on track.SMWH
Q1 2026 TU5 Mar 2026 - Profit up 16% to £166m, revenue up 7%, with strong travel growth and higher shareholder returns.SMWH
H2 202414 Jan 2026 - Travel segment delivers double-digit profit growth as group pivots to global travel retail.SMWH
H1 202523 Dec 2025 - 5% revenue growth, profit flat, North America restatements, FY26 margin and growth focus.SMWH
H2 202519 Dec 2025 - Strong Travel growth, £50m share buyback, and £85m pension return highlight robust performance.SMWH
Trading Update13 Jun 2025 - Travel revenue up 9% and new initiatives drive WH Smith's growth outlook.SMWH
Trading Update13 Jun 2025 - Travel revenue up 7% and full-year outlook maintained ahead of peak summer trading.SMWH
Trading Update6 Jun 2025 - Travel revenue up 8%, North America expansion accelerates with 60 new stores in pipeline.SMWH
Trading Update6 Jun 2025
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