Investor interest in WH Smith PLC's (LSE:SMWH) update next Wednesday will be focused on market consensus sales growth of 5% in 2025 and whether the retailer is on track to meet it, says UBS.
Current consensus forecasts imply a slight deceleration in slowdown within High Street sales (from minus 4% yoy in FY-24 to minus 3%) but also a slowdown in Travel growth (from 11% to 7%) as the COVID unwind benefit dissipates.
Absolute net addition levels were also forecast to be flat year-on-year.
UBS adds that with the shares off by 20% in the last few months (despite an ongoing buyback program), the market appears to have been disappointed by the roll-out targets and concerned about the delivery of growth.
All of which be things to watch in next week’s update.