Supermarkets 'drive deflation'

<p>Booksellers will fight aggressively over terms this year, according to a new report that claimed they want greater equality with supermarkets, Liz Bury writes.</p><p>The research by London-based stockbroker Baird focused on UK-quoted companies HMV Group, owner of Waterstone's; W H Smith; and Ottakar's. It said that supermarkets' hold on the book market would continue to drive down prices. While the sector was in a phase of "solid growth", supermarkets were taking share from independents, and, to a lesser degree, from book clubs and bargain bookshops.</p><p>Waterstone's had been "incense...

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