Outlook Still Gloomy for Waterstone’s

So remember how its merger with Ottakar’s was supposed to pump some much-needed life into the fortunes of Waterstone’s? Well, think again. According to parent company HMV‘s just-released strategy update, trading conditions have
deteriorated further since the Group’s last trading update in January, particularly in our overseas markets and at Waterstone’s. So a new strategic plan has been put in place to drive cost efficiency (aka close up to 20 Waterstone’s outlets) expand its children’s book propositions and revitalize the core business with loyalty cards and a social networking site. No doubt we’re not the only one who finds these moves too little, too late…