British bookseller and stationer WH Smith Plc said like-for-like sales fell two per cent in the 13 weeks to May 31 and while it was cautious about consumer spending it was confident about the outcome for the full year.

When posting an eight per cent rise in first-half pre-tax profit in April, the retailer had said like-for-like sales fell by three per cent in the six months to February 29 and by the same amount in the subsequent six weeks to April 12. The retailer, less vulnerable than some to the economic slowdown because its customers tend to spend small sums, said like-for-like sales at its high street stores fell by three per cent in the period - the first 13 weeks of its second half - while those at its travel outlets rose one per cent.