The group said total high street sales dropped 6% in the 21 weeks to January 25, down 3% on a like-for-like basis, while travel shops saw 6% growth.

Revenue at WH Smith rose four per cent in the first half of the financial year, driven by growth in its travel stores as it prepares to exit the high street. Total travel revenue rose six per cent like for like in the 21 weeks to January 25,

British retailer WH Smith Plc’s potential sale of its high street business risks triggering an event of default on its debt, according to the convertible bond desk at Jefferies.