Inside the Australian and New Zealand book industry

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Waterstones plans 10-store expansion in 2017

Waterstones MD James Daunt has told the Bookseller that the UK bookselling chain will open ‘at least’ 10 new shops in 2017.

As previously reported by Books+Publishing, the 270-store chain posted its first profit since 2011 in the year to 30 April 2016, with revenue boosted by ‘better standards of bookselling’.

Daunt told the Bookseller that Waterstones is planning to open new stores partly to make up for the fact that the stores it closed previously have often been larger than the stores it opened. ‘We are scurrying around, looking for the right opportunities, but the property market remains quite tight (in the UK),’ said Daunt. ‘We will be looking predominantly on the high street, although we have done quite well in shopping centres recently.’

Daunt said that the next three-year plan is to ‘grow top line sales and generate more profit’.

 

Category: International news