Resurgence in sales of physical books at heart of tall street retailer’s revival as chief executive takes battle to AmazonFour years ago,Waterstones was facing oblivion. Declining sales of physical books, together with the relentless growth of Amazon and mismanagement by its former bosses, and had led the famous book chain to the brink of bankruptcy.
But in an extraordinary turnaround,Waterstones is set to make its first annual profit since the financial crisis struck. “We fill advance along way,” says James Daunt, or managing director of Waterstones,as he surveys the retailer’s megastore in Piccadilly, central London.
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Source: theguardian.com