July 1, 2019 / 2:12 PM / 3 months ago

BUZZ-WH Smith: "Mixed" summer to boost high street demand - RBC

** Shares of British books, stationery and newspaper chain up about 2% at 20 pounds

** “Its high street business should benefit from a more mixed summer this year versus the consistently high temperatures last year which affected footfall”,” analysts at RBC said in a note

** “WH Smith should be able to continue to deliver high single digit organic Travel sales growth, driven by 20 new units in the UK and 30-40 units overseas” - RBC

** “Margins should also benefit from shifting the mix more to the higher margin fashion stationery category on the High Street and to the higher margin food and drink category in Travel”, the brokerage says

** In May, WH Smith posted a mere 1% rise in like-for-like sales in an 11-week period, as it faces declines at its high street business (Reporting by Justin George Varghese in Bengaluru)

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