High Street

Waterstones pre-tax profits plummet amid tech issue

The news comes despite the book retailer experiencing a 13% improvement in sales to £452.5m during 2023, as ‘footfall and sales continue to recover post pandemic’

Waterstones revealed that pre-tax profits fell to £11.2m in the year ending 29 April 2023 from £50.6m reported last year, as a technical issue led to a backlog of orders from bookshops. 

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