Book chain Waterstones predicts an upturn in its fortunes

High-street bookseller may break even in the financial year if strong sales continue ahead of Christmas after £23m last year

The boss of high-street bookseller Waterstones is predicting a marked recovery in its fortunes this year as a drive to run the chain of bookshops in a way tailored to local tastes rather than identikit stores encourages book lovers to set down their e-readers.

“We are heading towards break-even in the current financial year,” said managing director James Daunt. “If we have a decent Christmas, that is where we will get to.” Break-even would be an important milestone for the retailer, which narrowed its losses to £23m last year.

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