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Waterstones Rebounds: £33M Profit After Ending Paid Promotions

12/5/2025

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Summary

Story summary

Waterstones, led by James Daunt (former banker), ended paid promotions for books, leading to a £27m loss before profitability arrived in 2016.
It now opens about 10 new stores annually and posted profits of £33m on £528m in sales in 2024.
Daunt welcomed budget changes including reduced business rates for smaller retailers.
Daunt notes a post-pandemic rebound in book sales, with the holiday season accounting for 70% of annual profits.

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Story summary

Waterstones, led by James Daunt (former banker), ended paid promotions for books, leading to a £27m loss before profitability arrived in 2016.
It now opens about 10 new stores annually and posted profits of £33m on £528m in sales in 2024.
Daunt welcomed budget changes including reduced business rates for smaller retailers.
Daunt notes a post-pandemic rebound in book sales, with the holiday season accounting for 70% of annual profits.