Thomas Cook keeps faith in High Street shops

Thomas Cook today vowed to keep a High Street presence despite plans to close struggling travel agencies as bookings increasingly shift online.

The tour operator has closed 46 smaller shops in the six months to March, leaving it with 750 UK shops but is opening 25 larger stores, where customers can book appointments in advance.

It has been investing heavily in improving its website.

“We are still convinced that there is a reason to be on the high street. Customers come to us not because of the shop but because of the knowledge of our staff,” Peter Fankhauser, chief executive, said.

Revenues climbed 3% to £2.9 billion, but pre-tax losses rose to £314 million, up from £284 million. Summer bookings are up 12% on last year, with heavy demand for Greece and Cyrpus.