Decline in WH Smith sales slows

The stationery and book retailer WH Smith has delivered "good progress" on profit margins in its first quarter and a slight improvement in declining sales.

While WH Smith said group like-for-like sales fell by 4 per cent over the 10 weeks to 10 November, this was better than the 5 per cent fall over its full year. Its chief executive, Kate Swann, will step down next July to be replaced by Steve Clarke, who is managing director of WH Smith's high street business.