Tag #Waterstones

What factors contributed to Waterstones' significant profit increase in 2023, exceeding expectations in the declining retail book market?

Waterstones, the UK's largest bookseller, reported a doubling of its profits to £20.9 million in 2023, defying predictions of the physical bookstore's decline. This success is attributed to its community-focused strategy, enhanced customer experience, and adaptation to evolving consumer preferences. The return to print book sales, exceeding £1.7 billion in the UK in 2022, significantly contributed to this growth.