WHSmith to increase with 37 new Toys R Us retailers in time for Christmas purchasing
Former high street giant Toys R Us is making a big return to the high street, thanks to a WHSmith-led expansion.
The retailer known for selling magazines and meal deals previously reported a significant surge in full-year revenues, despite a weaker performance from its high street stores. Now Smiths has confirmed that another 37 Toys R Us concession stores will open before Christmas.
The firm, listed on the London Stock Exchange, announced that like-for-like sales at its travel shops soared by 7% for the year ending August 31, contributing to an overall 5% increase in total sales.
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Having re-launched back in 2022, after going bust in 2018, when WHSmith struck a deal to open concessions, the brand has now confirmed that the new locations will be opened on top of the 39 concessions it already has.
In recent years, WH Smith has been reinventing itself as a “one-stop-shop” for travellers, capitalising on the guaranteed footfall found in airports and railway stations rather than relying on traditional high street traffic.
With over 1,100 locations across the UK, the newsagent chain reported that its travel division had a particularly strong performance during the crucial spring and summer months, bolstered by “strong passenger numbers,” reports the Mirror.
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WHSmith’s boss Carl Cowling said: “We have ended the financial year in a strong position, delivering a performance in line with our expectations with good growth across our travel businesses. Our UK division performed particularly well over the peak summer trading period.
“Our colleagues have worked extremely hard to deliver these results over what has been a very busy summer, and I would like to thank them for their contribution to the group’s success.”
The total number of concessions will stand at 76 nationwide.
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