Waterstone's starts m.d. hunt

<p>Waterstone's has begun to search for a new managing director following Brian McLaughlin's decision to retire at the end of the year. The move comes as the book chain reported a 2.8% like-for-like sales decline for the seven weeks to 18th June. Total sales fell 1% in the seven weeks.
Parent HMV Group said current trading at Waterstone's was "in line with expectations as the business has targeted an improvement in margins through more focused campaigns and promotions".
Waterstone's operating margin slipped slightly in the year to 30th April, from 6.1% to 5.9%, but product margins improve...

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