Waterstones’ owner Elliott Advisors has acquired America’s biggest bookstore Barnes & Noble and made James Daunt boss of both. Retail Week looks at how he plans to make a success of the US institution.
Daunt has been the boss at Waterstones since 2011 and was brought in to turn the struggling business around.
The book chain hadn’t made a profit since 2008 but by April 2016, Waterstones registered a £9.8m pre-tax profit up from a £4.5m loss the previous year.
By April 2017, the bookseller recorded an 80% jump in annual profits.
Barnes & Noble has 627 stores across all 50 states and posted an adjusted EBITDA of $133m for its third quarter, ending January 26, compared to $139.5m for the same period the previous year.
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