WH Smith (SMWH) Q1 2026 TU earnings summary

Executive summary

• Solid first half performance with total revenue up 5% on a constant currency basis versus the prior year.

• On track to deliver full-year Group guidance.

Financial highlights

• Group revenue increased 5% year-over-year on a constant currency basis for the 26 weeks to 28 February 2026.

• UK revenue up 2% with like-for-like (LFL) revenue also up 2%.

• North America revenue up 10%* and LFL revenue up 1%.

• Rest of the World revenue up 8%* and LFL revenue up 6%.

Outlook and guidance

• Group is on track to meet full-year guidance.

• Geopolitical uncertainty in the Middle East is being monitored for its impact on passenger numbers.

• Continued focus on strategic priorities, cost, and cash discipline.