W H Smith has announced a 4% increase in sales for its first quarter (the 10 weeks to 8 November) over the same period in 2007. But the group's high street sales showed a 4% decline, 'in line with our expectations'. Sales at WHS Travel were flat.
WHS said that it was 'cautious about the consumer environment', and expected 'competitive trading in our markets over the key Christmas period'.
The group's shares at the time of writing (morning of 12 November) were trading at 354.25p, a fall of 2.75p on the opening price. Their 52-week high was 441.50p.