Skip navigation

Gloucestershire Business News

Waterstones profits plunge

Britain's biggest bookseller saw profits fall by 78% last year.

Waterstones, which has stores in Cheltenham, Gloucester and Cirencester, and also owns Hatchards in Cheltenham, blamed problems at its distribution centre, as reported by The Times.

It said introducing a new warehouse management system had hit sales and caused operating costs to rise temporarily.

Waterstones reported profit of £11.2m for the year to April 29, compared with profit of £50.6m for the previous year.

It said sales had risen by 13.2% to £452m for the year, with particularly strong online sales performance.

Waterstones acquired bookseller Blackwell's in August 2022 and also owns Foyles.

Related Articles

Guildhall privatisation idea shot down as Gloucester City approves £17.68m budget Image

Guildhall privatisation idea shot down as Gloucester City approves £17.68m budget

The move was suggested to help the council deal with spiralling costs for temporary accommodation.

Superdry settles trademark dispute Image

Superdry settles trademark dispute

Cheltenham-based Superdry has reached a settlement with an outdoorwear brand.

Greens secure flood management funding Image

Greens secure flood management funding

The Green councillors on Gloucestershire County Council last week won extra money for flood management schemes.

Cheltenham residents must book to use tip Image

Cheltenham residents must book to use tip

Cheltenham Borough Council is introducing an online booking system for its Swindon Road Household Recycling Centre.

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.