Waterstone’s is axing its popular 3 for 2 discounts on books in one of the most dramatic changes so far under new boss James Daunt, it is understood.

The bookseller is reportedly planning to introduce money-off deals on individual books instead.

Some staff were told yesterday (August 30) that the changes are expected to be made in September, marking the end of a deal that has been running in Waterstone’s stores for more than a decade.

Sources told books trade magazine The Bookseller that books would be uniformly priced at £5, while another suggested there would be a more staggered offer for paperbacks.

Daunt was parachuted into the business by new owner Alexander Mamut, who acquired Waterstone’s from HMV in May for £53m.

It is thought Daunt has wanted to move away from the more promotionally-led price stance of the book chain.

A Waterstone’s spokesman said: “We never make a comment on future promotional plans.”