John Smith results show high street heat

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John Smith &amp; Son has reported flat sales for the second consecutive year, reflecting difficult trading conditions and strong competition in its Glasgow heartland. The results cover the period preceding the company's announcement of the closure of its St Vincent Street and Byres Road branches in order to concentrate on academic bookselling.</p><p>
In the year to end-March 1999, the Scottish independent showed a nominal increase in sales of &pound;88,514 to &pound;18.8m. The company reported a pretax loss of &pound;397,188 and an operating loss of &pound;287,087. Willie Anderson, m.d....

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