Back in early 2011, BEFORE ebooks took off, Britain’s biggest bookstore chain was not so much staring into the abyss as halfway down the cliff. Borders UK had already fallen, and Borders US was close behind.
Then the Kindle UK store went from novelty to mainstream.
“Put simply, Waterstones hadn’t a snowball’s chance in hell of surviving, and for most observers the only question was whether Borders in the US would beat Waterstones in the liquidation race.
“Yet here we are in 2018 declaring an 80% increase in pre-tax profits for 2017, despite having to close several profitable stores.”
Yes, you read right. Waterstone’s is in the black again despite having to close profitable stores.
And this in the second-most dominated-by-Amazon country on the planet.
Read more over at The New Publishing Standard.