WH Smith is hoping for a revival in trade at its airport and railway station shops from this autumn after coronavirus lockdowns and travel restrictions prompted an 85% fall in company-wide sales in April. The books-to-paperclips retailer said it continued to trade at 130 stores within hospitals and on 203 UK high streets where it provides post office and banking services, but more than 300 high street stores have temporarily closed in the UK with hundreds more shut overseas. In April, sales plunged 91% at WH Smith’s railway station, airport and hospital stores and fell 74% on the high street but there was a surge in trade online with sales of books up 400% in the past month. That came after a 7% rise in group sales to £747m in the six months to February when group pretax profits slipped back 3% to £63m. WH Smith has about 1,700 stores, including 600 overseas, and employs about 14,000 people. Carl Cowling, the chief executive, said there had been a “significant impact” from the coronavirus on WH Smith. “The emergence of Covid-19 and the associated global pandemic has affected all of us in ways that were unimaginable only a short while ago,” he said. “We are a resilient and versatile business and with the operational actions we have taken including managing costs and the new financing arrangements, we are in a strong position to navigate this time of uncertainty and are well-positioned to benefit in due course from the normalisation and growth of our key markets.” The company is suspending payment of its interim dividend, worth £19m last year, seeking rent cuts, reducing stock purchases and delaying or cutting spending plans as it seeks to hoard cash to weather the difficult trading climate. WH Smith secured rent reductions of more than 40% in the past six months and expects to renegotiate rents on 400 stores over the next three years. It has also raised £120m in funding from its banks and £162m from shareholders to help support the business. Cowling said WH Smith expected a gradual improvement in trading at its airport and railway stores from autumn, particularly in the US where 80% of air passengers are domestic. The company said it expected regional, international and inter-continental travel to pick up later. WH Smith said its UK high street stores would benefit from a “more relaxed lockdown” in the medium term. The company said it was working on a “phased reopening schedule” over the coming months but expected “continued uncertainty for some time.”