Waterstones filed a belated report for their fiscal year ending April 25, 2020, including only the earliest days of the pandemic, with sales falling £17 million to £376 million — the lowest level yet following a long period of general decline — down 4.3 percent from £393 million in the prior fiscal year. Operating profit was up modestly at £32.6 million (compared to £29.7 million), but pre-tax profit fell by £4 million to £22.5 million, down 15 percent. The company notes that Covid-19 “has had, and continues to have, a significant adverse impact on Waterstones.” They add that, “Footfall and sales […]
