Waterstones sales increase in 2014-15
UK chain bookseller Waterstones has recorded a rise in sales for the year to 25 April 2015, leading MD James Daunt to comment that the company was ‘moving in the right direction’, reports the Bookseller. Waterstones’ annual financial results for the year to April 2015 showed the company’s revenue increased one percent year-to-year to £378.0m ($A765.8m), with losses down to £1.9m ($A3.8m) after tax, a decrease from £18.5m (A$37.5m) in 2014. Revenue was based on sales for UK bookshops only, and excluded sales figures from Waterstones’ European and Irish stores. Operating profit in the year to April 2015 rose to £4.3m ($A8.7m), compared to a loss of £12.2m (A$24.7%) in 2014, and staff numbers dropped to 3168 employees, 289 fewer than the previous year. Daunt highlighted the chain’s increased efficiency around cost control and stock management, and lower returns over the year. ‘If everything goes to plan, the figures will read black by April this year’, said Daunt.
Category: International news