Go Read This | Can WH Smith defy gravity forever? | Business | The Guardian
by Eoin Purcell
Love this piece, and not just because I agree with EVRYTHING written there. No, I like it because it’s the kind of clear-eyed analysis that is sometimes lacking when people write about bookshops and the book industry (I’m a victim of this fault myself).
But mottos are one thing. Common sense also says that no business can suffer declining sales indefinitely without running into problems. Take a look at those like-for-like sales statistics on the high street side since 2005-06. The run has been: minus 7%, minus 6%, minus 3%, minus 6%, minus 4%, minus 6% and, if current trends hold for the rest of the financial year, minus 6%.
A quick back-of-the-envelope calculation suggests that, on a same-store basis on the high street, WHS is selling roughly £68 for every £100 of custom seven years ago. Surely that spells trouble one day: running up the down escalator is not easy.