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Waterstone’s Remains Rosy On Neverending “Turnaround” As Comps Still Fall

December 9, 2010
By Michael Cader

Waterstone’s parent HMV reported sales for the first half of the fiscal year at the bookselling chain of 219.5 million pounds, down 2.4 percent overall, and declining 3.2 percent on a same-store basis. They had an operating loss of 9.9 million pounds, which is better than the loss of 12.9 million pounds a year go. In the best stiff-upper-lip tradition available, management insists that they are making “good progress on [the] turnaround at Waterstone’s.” At the same time HMV reminds investors that “the outcome of our full financial year will be largely determined by the next four weeks of the […]

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Filed Under: Booksellers, Earnings Reports, International News

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