Update Whsmith Daily Planner Review – A person wearing a mask leaves a WH Smith branch in London, UK, on December 1, 2021. Photo taken December 1, 2021 / May James Acquire Licensing Rights
April 27 () – WH Smith ( SMWH.L ) will have to raise prices on some products this year after the British retailer highlighted higher shipping costs from the Far East, inflationary pressures and the potential impact of the conflict in Ukraine.
Update Whsmith Daily Planner Review
Retailers across the UK have had to raise prices as they battle pandemic-led increases in transport costs, supply disruptions and higher raw material costs, while the situation in Ukraine has exacerbated problems.
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“As the year progresses, we will have to raise prices on some product categories,” said chief executive Carl Cowling.
WH Smith said that it is anticipated that the conflict in Ukraine may affect the group by increasing competition and costs for the international transport of goods from the Far East and increasing inflationary pressure on procurement and the supply chain.
However, Cowling also said that most of the retailer’s products, such as magazines, books and pharmaceutical products, have fixed prices and are unlikely to fluctuate.
WH Smith, which has stores in travel centers and sells everything from books and sandwiches to Bluetooth headphones, said that revenue from its travel business in the eight weeks to 23
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It returned to underlying pre-tax profit of 14 million pounds ($17.61 million) for the six months to February 28 from a loss of 19 million pounds a year ago as the travel industry recovers as Covid-19 restrictions ease facilitate. .
“We are not seeing a drop in footfall, particularly in our station and airport businesses, as people travel more due to pent-up demand after staying at home due to the pandemic,” Cowling said.
J. P. Analysts Morgan said WH Smith was well positioned to benefit from the global recovery in travel markets, adding that growth in WH Smith’s travel branches of over 125 stores was even more encouraging.
The company, which supplies products from the Far East to its main stores, also said it was already receiving products from Asia well ahead of schedule to avoid “significant” difficulties due to an increase in shipping costs.
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