Waterstone's boss departs after 'unsatisfactory' Christmas

HMV Group today branded Waterstone's Christmas performance "unsatisfactory" as it announced the departure of the book chain's boss.

Waterstone's saw its like-for-like sales slump 8.5% in the five weeks to January 2, as it suffered from the weakness in the high street book market and the collapse of Borders, which finished its closing down sales on Christmas Eve.