UPDATE 2-WH Smith braced for competitive Christmas trade

* 10 weeks to Nov. 7 total sales down 1 pct, meet f/casts

* High street like-for-like sales down 4 pct

* Travel division like-for-like sales down 2 pct

* Shares up 1.4 pct

(Adds detail, analyst comment, shares)

By James Davey

LONDON, Nov 12 (Reuters) - British retailer WH Smith (SMWH.L) said on Thursday it was well prepared for trading at Christmas, which British grocer Asda (WMT.N) predicted would be the most competitive for a decade.

"Whilst we remain cautious about the consumer environment and anticipate competitive trading in our markets over the key Christmas period, we have planned accordingly," the seller of newspapers, books and stationery said as it posted first-quarter sales in line with expectations.

The 217-year old retailer's comments came as Asda (WMT.N) said price competition this Christmas between retailers will be the most aggressive for ten years. [ID:nLC398949]