Skip to main content
The Markets by Proactive
Go to Proactive UK

Retail

WH Smith's growth trajectory will be under scrutiny next week, suggests UBS

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.