“Our immediate priority is clear: to deliver on our remediation plan and rebuild trust and credibility.”
Interim Group Chief Executive
Performance highlights
We’ve made strong progress by expanding our offer and enhancing our ranges. We’ve sharpened our focus on the categories that matter most to customers on the move – food and drinks, health and beauty, tech accessories, and books and magazines
£ 1.6 bn
£ 108 m
17.3 p
£ 2 m
43.4 p
1280
Performance of our segments
Following the Group’s strategic reset to a pure-play travel retailer, we have reviewed the broader Travel portfolio with a sharp focus on profitable growth and return on capital. In the UK, we are focused on retaining category leadership in Travel Essentials through our one-stop-shop format. In North America, we will focus on improving and investing in our core Travel Essentials business. In our Rest of the World and Other (“ROW”) division, we will focus our investment on our core, strategically important markets, including Australia, Ireland and Spain.
In the UK, our largest division, we have delivered another year of good growth. We have continued to optimise the estate and review our operating model, realising substantial cost efficiencies in the face of sustained inflationary cost pressures. We are investing in our UK store portfolio while also identifying new and better quality space opportunities across each of our channels.
North America remains an attractive market and investment opportunity. This is the largest travel retail market in the world with significant investment and long-term structural growth trends. We see plenty of opportunity to capitalise on the substantial growth opportunities given our small market share.
In our ROW division, we remain focused on growing and building scale in our core, strategically important markets, particularly in Australia, Ireland and Spain where we have established strong brand recognition and proven commercial success.
Further links
Investment case
