Direct Retail News Hubb
Advertisement Banner
  • Home
  • Retail News
  • Service Retail News
  • Contact
No Result
View All Result
  • Home
  • Retail News
  • Service Retail News
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home Retail News

Waterstones profits rise as Brits return to bookshops

admin by admin
January 20, 2023
in Retail News


// Waterstones posts rise in profits thanks to return of in-store customers
// The bookseller posted a £42.1m profit after tax for the year ending April 2022, up from £2.9m in 2020/21

Waterstones full-year profits have soared as customers returned to bookshops after Covid restrictions eased.

For the financial year ending April 2022, the bookseller posted a £42.1m profit after tax, an increase from £2.9m in 2020/21 and £19.7m in 2019/20.

Sales surged 73% to £399.8m from the prior Covid-hit year. Against 2019/20, sales were 6.3% up.


Subscribe to Retail Gazette for free

Sign up here to get the latest news straight into your inbox each morning


In its first full-year performance post pandemic, Waterstones said it benefited from the scrapping of lockdowns and restrictions.

The retailer said its acquisition of independent bookseller Blackwell’s in March 2022 “exemplified its confidence in the business”.

The acquisition of Blackwell’s came after Waterstones bought Foyles in September 2018.

It brought Blackwell’s into the same group as US bookseller Barnes & Noble, which like Waterstones is owned by US hedge fund Elliott Investment Management.

Despite its renewed confidence, teh bookseller warned that reduced footfall, rising inflation, lower customer confidence and supply chain issues may continue to be a challenge in the future.



Source link

Previous Post

Bed Bath & Beyond receives Nasdaq warning over late 10-Q

Next Post

Kroger Taps Cloud Technology to Empower New Associate and Manager Apps

Next Post

Kroger Taps Cloud Technology to Empower New Associate and Manager Apps

Recommended

Iceland Foods loses ‘Iceland vs Iceland’ trademark court case

1 month ago

Tesco has wider price gap in supermarket and convenience shops than Sainsbury’s

2 months ago

© 2022 Direct Retail News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Retail News
  • Service Retail News
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Retail News
  • Service Retail News
  • Contact

© 2022 Direct Retail News Hubb All rights reserved.