Waterstones boss James Daunt plans to open dozens of new bookshops this year following a “solid Christmas” trading.
The chief executive, who also manages Barnes & Noble in the US, said the business opened 12 new stores in the UK last year and is looking to “do that or more in 2025”.
It comes as Daunt revealed another successful festive season for Waterstones, boosted by the last weekend of trading before Christmas Day.
He told The Financial Times that a Christmas on a Wednesday worked well for last-minute shoppers, who waited for the weekend before to buy gifts.
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“If you are in the ‘last minute’ game — and we are to an extent — then [ . . .] it was a solid Christmas that came late because of the fall of the calendar,” he said.
“The last weekend and [December] 23-24 were exceptional on both sides of the Atlantic. It has been a good post-Christmas as well.”
Daunt’s store opening plans come as fellow retailers have put their expansions on pause to grapple with rising costs following October’s Budget.
However, the chief executive backed the announcements despite noting that pay inflation was “really significant” for the business.
Instead, he said the fallout from Brexit is still the most significant issue for Waterstones: “It remains the biggest pain, adds to the cost and complexity, and made our labour situation worse.”
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