Retailer WHSmith said on Wednesday a rapid recovery in travel, especially across Europe, has pushed its second-half revenue “comfortably” ahead of pre-pandemic levels.
The travel industry has seen a surge in demand for summer travel since Covid-19 restrictions were lifted in many countries, leading to disruption at airports and longer waiting times for passengers.
WHSmith, which has stores in travel hubs — including Dublin Airport — and sells everything from books, sandwiches to Bluetooth headphones, said it has benefited from the rise in passenger numbers despite the disruptions.
It said the UK and North America markets continue to perform well and it was seeing signs of recovery across all its other markets as well, with Europe gaining momentum most rapidly and Australia and Asia showing notable improvements.
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Revenue at its travel business rose 29 per cent in the six months to August 27th, compared with 2019 numbers.
Its high-street business in Britain, however, remained below pre-pandemic numbers at 80 per cent of 2019 levels for the same period, hit by a cyber incident in April affecting its online greeting card business.
WHSmith said it was looking to save costs at its high-street shops, mainly through rent reductions. — Reuters
