WH Smith to launch 37 Toys R Us concessions before Christmas

WH Smith has reported a strong performance in its global travel business, particularly in airports and railway and bus stations, leading to a 10% increase in like-for-like revenue for the year ending August. This growth has contributed to a total group revenue increase of 7%, despite a decline of 4% in its traditional high street operations, which aligns with market expectations. In response to this positive trading environment, the retailer has announced a £50 million share buyback program, reflecting confidence in its financial health. The announcement of the share buyback has positively impacted WH Smith's share price, which rose by 11.1%, reaching £13.63 in afternoon trading. The company’s strategy to expand its presence in the travel sector appears to be paying off, as it plans to open 37 Toys R Us concessions before the Christmas season, more than doubling its mini-outlet offerings. This move is expected to enhance customer experience and drive additional revenue during the crucial holiday shopping period.