WH Smith said the company has had a "good" start to the financial year, with total U.K. revenue for the 20-week period ending January 20 up 15%. The Bookseller reported that in a trading update, the retailer said it had seen a "notably strong performance in the UK," while the travel business was "growing strongly."
Total group revenue rose 8% compared to last year, while global travel was up 16% over 2023 on a constant-currency basis. The U.K. high-street division delivered a "good performance, in line with our expectations," with store like-for-like revenue up 1% in December, while total LFL revenue for the 20-week period was 3% lower compared to last year, "in line with expectations."
"We maintained good stock availability and we exited Christmas with a clean stock position. We are on track to deliver our targeted full-year cost savings of £10 million [about $12.7 million]," the company said.
Carl Cowling, WH Smith's group CEO, commented: "We continue to make excellent progress in North America, and I am particularly excited by the substantial growth opportunities that exist in this market. We are on track to open more than 50 new stores in North America this financial year. In total, we are on track to open more than 110 stores this financial year."
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Customers in the Netherlands purchased 43 million books--physical books, e-books, and audiobooks--in 2023, the largest number sold since 2012. NL Times reported that the increase in sales is entirely due to foreign-language books, primarily in English. The sale of Dutch-language books decreased, according to the Collective Propaganda of the Dutch Book Foundation.
"It is encouraging to see that more books have been sold in the Netherlands for the fourth year in a row and that turnover is even growing for the ninth year in a row," CPNB director Eveline Aendekerk said. "Especially because this year we see that fewer books have been sold in other countries like France, England, America, and Germany. Reading enriches people and society. That's why CPNB connects people with books."
Readers purchased €685 million (about $743 million) worth of books last year, 3% more than in 2022. The sale of physical books fell slightly (-0.3%), while 5% more individual e-books outside subscription forms were sold after two years of decline. The sale of Dutch-language books declined by 1%.
Aendekerk noted that the Netherlands' book industry seems to be doing well: "The question, however, is whether the increase in turnover outweighs the significant cost increases that the book trade is also experiencing. Reason for the CPNB to sharpen its strategy in the coming years to increase its impact on the market and stimulate the desire to read. The aim is for Dutch people to visit their favorite bookstore or library at least once a year for a book."
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Books+Publishing's Christmas survey asked Australian booksellers and publishers to predict what trends and developments might unfold in 2024. While concern about the economy was widespread, Tom Hoskins, operations manager for Readings bookshops in Melbourne, said: "With any luck, the era of inflation and rate-rises is behind us. If this stability brings about stronger consumer sentiment, we hope to see an uplift in sales over the next twelve months. Digital detox may continue to grow, heightening the importance of community hubs and third places like bookshops."
Peter Arnaudo, owner of the Book Cow Bookshop, Canberra, agreed: "I think that people are moving away from the online platforms to buy books and are continuing the return back to physical bookshops where they can browse, share experiences on books and get great advice and recommendations. Especially for kids' books. There is nothing that can compare." --Robert Gray