Waterstone's strengthens margin

<p>Waterstone's has continued to strengthen gross margin, according to an update from parent HMV Group. A new book reordering system, adapted from HMV music stores, had helped to improve stock turn and to shed &#163;10m of slower-selling stock. Like-for-like sales growth was 5.1% for the 21-weeks to 20th September.

A detailed breakdown showed like-for-like sales growth of 7.2% for the eight weeks to 21st June, including first day sales of "Harry Potter and the Order of the Phoenix". Like-for-like growth for the 13 weeks to 20th September was 3.9%. Waterstone's total sales growth--at 4.8% fo...

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