Ottakar’s sees sales decline ease
Full year performance on track
Bookseller Ottakar’s has seen its rate of like-for-like decline improve over recent weeks, helping keep the business on track.
In a trading update timed for its annual meeting, the company said total sales in the 14 weeks to May 7 are up 4.7 per cent. Like-for-likes are down 0.5 per cent, an improvement over the 1.6 per cent decline previously reported for the seven weeks to March 19.
Ottakar’s plans to open four new stores, as well as two acquired from Corbetts Bookshops in Amersham and Alton, and relocate stores in Dundee and the Science Museum in London. Further openings are likely to be announced with the pre-close trading statement in July, along with an indication of initial sales of the new Harry Potter book.
Ottakar’s said: “The outcome for the full year will be determined by the key Christmas trading period. We are, however, on course to meet market expectations in the current financial year.”
