Waterstones

File:Waterstones W.jpg were gold in colour]]

The chain was founded in 1982 by Tim Waterstone after he took a{{cite book |last1=Thompson |first1=John L. |last2=Martin |first2=Frank |url=https://books.google.com/books?id=K9XQSF2Q0DAC&pg=PA401 |title=Strategic Management: Awareness & Change |publisher=Cengage Learning |year=2010 |isbn=978-1-4080-1807-1 |page=401}}{{cite news|last=Blackhurst|first=Chris|title=Profile: Tim Waterstone - A battle of heart and head|url=https://www.independent.co.uk/voices/profile-tim-waterstone--a-battle-of-heart-and-head-1234021.html|access-date=3 October 2013|newspaper=The Independent|date=5 October 1997|location=London}} £6,000 redundancy payout from WHSmith. He set up his first shop in Old Brompton Road, Kensington with the ambition of creating a "different breed of bookshop", using techniques he had seen in the United States. He used literary authors in front-of-shop displays and employed highly literate staff.{{cite news|last=Walker|first=Tim|title=Do bookshops have a future?|url=https://www.independent.co.uk/arts-entertainment/books/features/do-bookshops-have-a-future-2240874.html|access-date=17 January 2012|newspaper=The Independent|date=14 March 2011|location=London}}

The model proved successful and the chain set about expanding its shop portfolio. In 1990 WHSmith took a strong minority stake in the chain, and ten years after its birth, by 1992, Waterstone's had grown to be the largest bookseller group in Europe. WHSmith then acquired the company in 1993 at an enterprise value of £47m, paying £5.27 a share on 8.1m 10p shares, a 53x multiple for the early-stage investors.{{cite news |title=Waterstone coy on bid for book chain |work=The Bookseller |date=7 February 2011 |url=http://www.thebookseller.com/news/waterstone-coy-bid-book-chain.html |access-date=17 January 2012 |archive-url=https://web.archive.org/web/20171116184410/https://www.thebookseller.com/news/waterstone-coy-bid-book-chain |archive-date=16 November 2017}} Under WHSmith, Waterstones pursued international expansion, opening its first US shop in Boston in 1991, as well as further domestic expansion—opening its 100th UK shop in a former chapel in Reading.

The chain was part of the eventual dismantling of the Net Book Agreement, when in 1991, following a promotion by then-rivals Dillons, the company decided to pursue its own discounting promotion on selected titles.{{cite news|last=Cassidy|first=Suzanne|title=THE MEDIA BUSINESS; British Book Shops in Price Skirmishes|url=https://www.nytimes.com/1991/10/07/business/the-media-business-british-book-shops-in-price-skirmishes.html|access-date=17 January 2012|newspaper=The New York Times|date=7 October 1991}} By 1997, the agreement had collapsed and been declared illegal.{{cite news|last=Jordison|first=Sam|title=Time to bring back the net book agreement?|url=https://www.theguardian.com/books/booksblog/2010/jun/17/net-book-agreement-publishing|access-date=6 February 2012|newspaper=The Guardian|date=17 June 2010|location=London}}

File:Waterstones, Kirkgate, Wakefield, West Yorkshire (8th December 2020).jpg occupies the city's former HMV branch]]

Following an attempt by Tim Waterstone in 1997 to buy the entire WHSmith group,{{citation needed|date=October 2018}} WHSmith sold the Waterstones chain for £300 million to HMV Media plc (now HMV Group)—a joint venture between EMI, Advent International and Tim Waterstone. This included high-street brands HMV and rival Dillons, creating an international entertainment retailer. Waterstone was appointed chairman of the group but stood down in 2001, citing "concerns for the way the company was being run", and was replaced by Alan Giles.{{cite news|last=Dermarzio|first=Paula|title=HMV's CEO Alan Giles set to quit|url=http://www.abcmoney.co.uk/news/1220061706.htm|access-date=19 January 2012|date=12 June 2006|agency=ABC Money News}} A year later, all Dillons shops were rebranded as Waterstones, with some sold to rival Ottakar's, making the brand defunct. The chain had also begun pulling out of its US overseas venture.{{cite news|last=Rosen|first=Judith |title=Waterstone's Looking to Sell Boston Stores |url=http://www.publishersweekly.com/pw/print/19990517/40899-waterstone-s-looking-to-sell-boston-stores.html|access-date=17 January 2012 |newspaper=Publisher' Weekly|date=17 May 1999}}

In 2001, Waterstones launched the Waterstones Books Quarterly magazine, containing book reviews and author interviews. In the same year, the booksellers' online operation, Waterstones.co.uk, was franchised to Amazon.com, with the company expressing a desire "to concentrate on its high street and campus shops". The move resulted in the loss of 50 jobs.{{cite news|title=Amazon in Waterstones Deal|date=26 July 2001 |work=BBC News |url=http://news.bbc.co.uk/1/hi/business/1458561.stm|access-date=19 January 2012}} In 2003, Waterstones announced it was supporting Dyslexia Action as its chosen charity, helping to raise awareness and understanding for dyslexia.{{cite web |title=Waterstones and Dyslexia Action|publisher=Waterstone's |url=http://www.waterstones.com/waterstonesweb/navigate.do?pPageID=100000022 |access-date=19 January 2012|archive-url=https://web.archive.org/web/20110826184642/http://www.waterstones.com/waterstonesweb/navigate.do?pPageID=100000022|archive-date=26 August 2011}}

File:Waterstone’s.png

In 2006, Giles stepped down from his position and was replaced by Gerry Johnson as managing director of Waterstones{{cite web|title=HMV Group appoints Gerry Johnson as Managing Director of Waterstones|url=http://production.investis.com/hmv/rns/rnsitem?id=200509081528420344R |publisher=HMV Group|access-date=19 January 2012|date=8 September 2005}} and Simon Fox as group CEO.{{cite news|last=Rowe |first=James|title=Simon Fox appoint CEO of HMV|url=http://www.abcmoney.co.uk/news/1820062494.htm|access-date=19 January 2012|date=18 July 2006 |agency=ABC Money News}} In April 2006, following two bids by Permira for the group, Tim Waterstone attempted to buy back the company from HMV for £256 million,{{cite news|title=Founder in bid for Waterstones|url=http://news.bbc.co.uk/1/hi/business/4938080.stm|access-date=19 January 2012|date=24 April 2006|work=BBC News}} but later withdrew his offer, specifying that the conditions set by HMV were "too punitive" to accept.{{cite news|title=Founder ends bid for Waterstones |url=http://news.bbc.co.uk/1/hi/business/4964580.stm |access-date=19 January 2012|date=2 May 2006|work=BBC News}} A strategic review in September saw Waterstones pull out of its franchise agreement with Amazon to re-launch its online business, Waterstones.com, independently.{{cite news |url=http://news.bbc.co.uk/1/hi/business/4753147.stm |title=Waterstone's Goes It Alone Online |date=9 May 2006 |access-date=27 May 2010 |work=BBC News}} The chain also began to pilot a loyalty programme in South-West England and Wales. The scheme was successful, launching nationally as The Waterstones Card across its entire shop portfolio.{{cite web |last=Jones |first=Philip |title=Waterstones Card goes Nationwide |url=http://www.thebookseller.com/news/waterstones-card-goes-nationwide.html |access-date=19 January 2012 |work=The Bookseller|date=9 August 2007 |archive-url=https://web.archive.org/web/20140515014251/http://www.thebookseller.com/news/waterstones-card-goes-nationwide.html |archive-date=15 May 2014}}

Waterstones piloted a brand refresh exercise in selected shops, beginning with Manchester's Arndale Centre in 2007.{{cite web |title=Waterstones: Brand Refresh and Environment |url=http://www.new-edge.com/our-clients.html?view=case&id=96 |publisher=NewEdge |access-date=19 January 2012|archive-url=https://web.archive.org/web/20120401040855/http://www.new-edge.com/our-clients.html?view=case&id=96 |archive-date=1 April 2012}} On 19 November 2007, the chain closed its first branch on Old Brompton Road.{{cite news |last=Neill |first=Graeme |title=Waterstones closes first ever Branch |url=http://www.thebookseller.com/news/waterstones-closes-first-ever-branch.html |access-date=19 January 2012 |newspaper=The Bookseller |date=19 November 2007}} Following a consultation, the company's supply chain was overhauled in 2008, with the implementation of a {{convert|150000|ft2|adj=on}} warehouse and distribution centre in Burton-upon-Trent. Existing direct-to-store deliveries from suppliers were replaced by a centralised warehouse capable of receiving merchandise and sorting an estimated 70 million books per year, and 200 staff were made redundant by the process.{{cite magazine |url=http://www.thebookseller.com/news/74324-waterstones-confirms-job-losses.html |last=Neill |first=Graeme |date=13 January 2009 |title=Waterstone's Redundancies|magazine=The Bookseller |archive-url=https://web.archive.org/web/20090117213604/http://www.thebookseller.com/news/74324-waterstones-confirms-job-losses.html |archive-date=17 January 2009 }}{{cite news |url=http://uk.reuters.com/article/businessNews/idUKTRE50B48Y20090112 |archive-url=https://archive.today/20120715143816/http://uk.reuters.com/article/businessNews/idUKTRE50B48Y20090112 |url-status=dead |archive-date=15 July 2012 | publisher=Reuters | title=Waterstone's planning redundancies |first=James |last=Davey |date=12 January 2009}} In September 2008, Waterstones began selling the Sony Reader in an agreement that saw the booksellers' branches and Sony Centre shops stock the reader exclusively for two weeks after its release. Waterstones.com began to supply e-books in the .epub format.{{cite magazine |last=Neill |first=Graeme |date=27 March 2008 |title=Waterstone's Stocks Sony Reader |url=http://www.thebookseller.com/news/63631-waterstones-to-stock-sony-reader.html |magazine=The Bookseller |archive-url=https://web.archive.org/web/20081225213152/http://www.thebookseller.com/news/63631-waterstones-to-stock-sony-reader.html |archive-date=25 December 2008}} In November 2009, Waterstones moved into second-hand bookselling in a partnership with Alibris setting up an online reselling tool called Waterstones Marketplace, part of Waterstones.com.{{cite news|last=Jones|first=Philip |title=Waterstones rolls out second hand bookstore|url=http://www.thebookseller.com/news/waterstones-rolls-out-secondhand-bookstore.html|access-date=19 January 2012|newspaper=The Bookseller|date=19 November 2009}}

File:Waterstones logo FS Alberta PRO.jpg to FS Albert Pro until 2012]]

In January 2010, HMV Group announced that Waterstones like-for-like sales over the Christmas period were down 8.5 per cent on the previous year. This culminated in the resignation of managing director Gerry Johnson, with immediate effect.{{cite news |url=https://www.theguardian.com/business/2010/jan/14/waterstones-boss-leaves-poor-xmas-sales |newspaper=The Guardian |location=London |title=Waterstone's chief pays the price for poor Christmas sales |first=Graeme |last=Wearden |date=14 January 2010 |access-date=27 May 2010}} He was replaced by development director Dominic Myers, who was managing director of the British academic bookselling chain Blackwells until 2005.{{cite news |last=Jones |first=Philip |title=Mr Fixit takes helm at Waterstones |url=http://www.thebookseller.com/news/dominic-myers-mr-fixit-takes-helm-waterstones.html|access-date=19 January 2012|newspaper=The Bookseller|date=14 January 2010}} Myers joined HMV in 2006 to oversee the integration of Ottakar's into the chain. In response to the decline in sales, he implemented a three-year plan in which branches were tailored to their local market alongside a 'rejuvenation'{{cite magazine |url=http://www.thebookseller.com/news/115046-myers-plans-to-rejuvenate-waterstones-after-stifling-homogeneity.html |last=Neill |first=Graeme |date=29 March 2010 |title=Myers plans to 'rejuvenate' Waterstone's |magazine=The Bookseller |archive-url=https://web.archive.org/web/20100529043119/http://www.thebookseller.com/news/115046-myers-plans-to-rejuvenate-waterstones-after-stifling-homogeneity.html |archive-date=29 May 2010 }} of the company brand and an increase in range. As part of these changes, Waterstones implemented new branding in May 2010, developed by agency VentureThree.{{cite magazine |url=http://www.thebookseller.com/news/118142-waterstones-flexible-rebrand-to-reclaim-the-high-street.html |last=Gallagher |first=Victoria |date=11 May 2010 |title=Waterstone's 'flexible' rebrand to reclaim the high street|magazine=The Bookseller|archive-url=https://web.archive.org/web/20100515123700/http://www.thebookseller.com/news/118142-waterstones-flexible-rebrand-to-reclaim-the-high-street.html |archive-date=15 May 2010}} The company also moved to support the Rainbow Trust, which provides support to children with life-threatening and terminal illnesses and their families, in the same year.{{cite web |title=Waterstones and Rainbow Trust Children's Charity |work=Waterstone's |url=http://www.waterstones.com/waterstonesweb/pages/rainbow-trust/1980/ |access-date=19 January 2012 |archive-url=https://web.archive.org/web/20111229104215/http://www.waterstones.com/waterstonesweb/pages/rainbow-trust/1980/ |archive-date=29 December 2011 }}

After an announcement that profits would be at the lower end of analysts' forecasts due to falling sales and a share price fall of 20%, HMV Group indicated its intention to close a number of Waterstones branches in January 2011.{{cite news|title=HMV to close 60 shops and sales and shares slump|url=https://www.bbc.co.uk/news/business-12117510|access-date=19 January 2012|date=5 January 2011|work=BBC News}}{{cite news| url=https://www.theguardian.com/business/2011/jan/05/hmv-profits-warning-grim-christmas |location=London |newspaper=The Guardian |first1=Graeme |last1=Wearden |first2=Simon |last2=Bowers |first3=Zoe |last3=Wood |title=HMV issues profit warning after grim Christmas |date=5 January 2011}} These shop closures, including two in Dublin, Republic of Ireland{{cite news |title=Dublin branches of Waterstones close |url=http://www.rte.ie/news/2011/0206/waterstones.html|access-date=19 January 2012|date=6 February 2011|agency=RTÉ News|work=RTÉ News}} and nine others across the United Kingdom occurred in February 2011.{{cite news|last=Campbell|first=Lisa|title=Waterstones to close 11 stores by end of week|url=http://www.thebookseller.com/news/waterstones-close-11-stores-end-week.html|access-date=19 January 2012|newspaper=The Bookseller |date=1 February 2011}} Further branch closures in Luton, Dorking, Lancaster University, Harrods, Gateshead and Norwich Arcade were completed by the end of 2011.{{cite news|last=Campbell|first=Lisa|title=Waterstones close Milton Keynes Branch|url=http://www.thebookseller.com/news/waterstones-close-milton-keynes-branch.html|access-date=19 January 2012|newspaper=The Bookseller|date=22 November 2011}}

In May 2011, HMV Group announced the sale of Waterstones to A&NN Capital Fund Management, a fund controlled by Russian businessman Alexander Mamut for £53 million.{{cite news |title=HMV sells Waterstone's for £53m |date=20 May 2011 |first=Mark |last=Sweney |newspaper=The Guardian |location=London |url=https://www.theguardian.com/media/2011/may/20/hmv-sells-waterstones-book-chain |access-date=31 May 2011 }} The takeover was welcomed by publishers as "a step forward to re-establishing a proper physical presence".{{cite news |title=Children's publishers welcome Waterstone's sale |date=27 May 2011 |first=Caroline |last=Horn |work=The Bookseller |url=http://www.thebookseller.com/news/childrens-publishers-welcome-waterstones-sale.html |access-date=31 May 2011}} On 29 June 2011, the sale of Waterstones was completed and approved by the vast majority of shareholders at an emergency general meeting.{{cite web |title=HMV Group completes sale of Waterstone's |date=29 June 2011 |first=Ben |last=Sillitoe |work=Retail Gazette |url=http://www.retailgazette.co.uk/articles/43342-hmv-group-completes-sale-of-waterstones |access-date=29 June 2011 |archive-url=https://web.archive.org/web/20110925042137/http://www.retailgazette.co.uk/articles/43342-hmv-group-completes-sale-of-waterstones |archive-date=25 September 2011}} Mamut appointed James Daunt, founder of Daunt Books, as managing director{{cite news|last=Hall |first=James|title=Daunt parachuted in to run Waterstones |url=https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8525575/James-Daunt-parachuted-in-to-run-Waterstones.html |access-date=19 January 2012|newspaper=The Daily Telegraph|date=20 May 2011|location=London}} and, in October 2011, a board of directors was announced, including Miranda Curtis as chairman.{{cite news|last=Campbell|first=Lisa|title=Waterstones announced Board of Directors|url=http://www.thebookseller.com/news/waterstones-reveals-board-directors.html|access-date=19 January 2012 |newspaper=The Bookseller|date=5 October 2011}} In September 2011, the bookseller announced that it intended to drop its 3-for-2 deal on books after a decade.{{cite news|title=Waterstones drops 3-for-2 deal|url=https://www.bbc.co.uk/news/entertainment-arts-14745683|access-date=19 January 2012|date=1 September 2011|work=BBC News}} The offer was replaced with a "bespoke offer", based on branches choosing their own pricing structures from available discounts.{{cite news|last=Campbell|first=Lisa|title=Waterstone branches roll out bespoke offer |url=http://www.thebookseller.com/news/waterstones-branches-roll-out-bespoke-offer.html|access-date=19 January 2012|newspaper=The Bookseller |date=14 October 2011}}

In January 2012, the company announced that it would be moving away from the branding developed in 2010 by agency VentureThree, and reverting to its original logo.{{cite news|last=Campbell|first=Lisa|title=Waterstones reverts to original logo, drops apostrophe |url=http://www.thebookseller.com/news/waterstones-reverts-original-logo-drops-apostrophe.html|access-date=19 January 2012 |newspaper=The Bookseller|date=11 January 2012}} This involved the removal of the apostrophe from its name because, James Daunt argued, "Waterstones without an apostrophe is, in a digital world of URLs and email addresses, a more versatile and practical spelling".{{cite web |title=Waterstones unveils new logo: Press Release|work=Waterstone's |url=http://www.waterstones.com/wat/images/special/pdf/PressRelease_110112.pdf |access-date=6 February 2012|archive-url=https://web.archive.org/web/20120131082939/http://www.waterstones.com/wat/images/special/pdf/PressRelease_110112.pdf|archive-date=31 January 2012}} This decision received media coverage, in which the company was subject to criticism. John Richards, of the Apostrophe Protection Society, said that the change was "just plain wrong" and "grammatically incorrect"{{cite news|title=Waterstone's drops name apostrophe|url=https://www.bbc.co.uk/news/entertainment-arts-16529653|access-date=13 January 2012|date=12 January 2012|work=BBC News}} while the move sparked outrage on Twitter, involving debate on whether the move was grammatically incorrect or not. Linguist David Crystal on his blog added: " ... if Waterstone's wants to become Waterstones, that's up to the firm. It's nothing to do with expressing possession or plurality or anything to do with meaning."{{cite web|last=Crystal|first=David |title=On Waterstone(')s |url=http://david-crystal.blogspot.com/2012/01/on-waterstones.html |work=D.C. Blog|date=13 January 2012 |access-date=19 January 2012}}

In the same month, Waterstones confirmed plans to open a Russian-language bookshop in its Piccadilly branch, intending to stock 5,000 titles, with the shop being entirely staffed by Russian-speaking booksellers.{{cite news|last=Campbell|first=Lisa|title=Waterstones to open Russian bookshop|url=http://www.thebookseller.com/news/waterstones-open-russian-bookshop.html|access-date=27 January 2012|newspaper=The Bookseller |date=25 January 2012}} The concession, named The Russian Bookshop, opened in March 2012.{{cite news |last=Jones|first=Philip |date=2 March 2012|title=Waterstones' Russian store sets agenda for chain|newspaper=The Bookseller |url=http://www.thebookseller.com/news/waterstones’-russian-store-sets-agenda.html|access-date=21 May 2012}}

File:Waterstones and Cafe W, SUTTON, Surrey, Greater London.jpg branch, with Café W signage]]

Following a decision in late 2011 to scrap an e-reading offer in-branch,{{cite news|last=McCrum |first=Robert|title=Waterstones boss poised to join the e-reader battle |newspaper=The Observer|date=20 May 2012|location=London |url=https://www.theguardian.com/books/2012/may/20/waterstones-e-reader-strategy-james-daunt?newsfeed=true|access-date=21 May 2012}} it was announced in May 2012 that Waterstones would be selling the Amazon Kindle across its estate. James Daunt launched the new agreement with Amazon stating that Waterstones would be offering "e-reading services and offer Kindle digital devices" throughout the company's branches and on its website, with an intention to "make the Kindle experience better".{{cite news|last=Jones |first=Philip|title=Waterstones signs Kindle deal with Amazon |url=http://www.thebookseller.com/news/waterstones-signs-kindle-deal-amazon.html |access-date=21 May 2012|newspaper=The Bookseller |date=21 May 2012}} This announcement was received with surprise across the book industry as it had been suggested that Waterstones was developing a partnership with Barnes & Noble to launch the Nook in the UK, or that the company was developing its own device, but Daunt "ultimately rejected" other avenues as Waterstones "would have been out of the market" before their implementation.{{cite news|last=Jones|first=Philip|date=21 May 2012 |title=Daunt: Waterstones customers 'want Kindle' |url=http://www.thebookseller.com/news/waterstones-customers-want-Kindle.html|access-date=21 May 2012 |newspaper=The Bookseller}}

It was also announced in May 2012 that the company would begin a refurbishment plan, with Mamut "investing tens of millions of pounds" to fund the refit of a planned 100 shops before the end of the year. The plan saw the introduction of wi-fi into shops,{{cite news |last=Campbell|first=Lisa|title=Daunt: 'tens of millions' going into Waterstones refit|url=http://www.thebookseller.com/news/daunt-tens-millions-going-waterstones-refit.html|access-date=18 January 2013|newspaper=The Bookseller|date=22 May 2012}} reorganisation of shop sections and space dedicated areas for Kindle devices, and a number of own-brand coffee shops called Café W.{{cite news |last=Jones|first=Philip|title=Waterstones Special: Daunt|url=http://www.thebookseller.com/feature/Waterstones-special-Daunt.html|access-date=18 January 2013|newspaper=The Bookseller|date=16 November 2012}} The Café W brand was trialled in the Sutton branch, with an expressed aim for around 130 shops over a three-year period to be fitted with a café.{{cite web|title=Waterstones rolls out Café W|url=http://www.peach-report.com/Missed_This/1399450/waterstones_rolls_out_caf_w.html|publisher=PeachesReport|access-date=18 January 2013|archive-date=2 March 2014|archive-url=https://web.archive.org/web/20140302020414/http://www.peach-report.com/Missed_This/1399450/waterstones_rolls_out_caf_w.html|url-status=dead}} The announcement also noted the introduction of a "click-and-collect" service.{{cite news|title=Daunt planning more stores, plus 'click and collect'|url=https://www.thebookseller.com/news/daunt-planning-more-stores-plus-click-and-collect|first=Charlotte|last=Williams|access-date=4 September 2024 |newspaper=The Bookseller|date=28 May 2012}}

The Amazon Kindle officially launched in-branch in October 2012 with an "outdoor and press advertising campaign" promoting the launch, with the Kindle Fire and Kindle Paperwhite model going on sale for the first time in the UK along with older models.{{cite news |last=Campbell|first=Lisa |title=Waterstones welcomes Kindle with 'light-hearted' campaign |url=http://www.thebookseller.com/news/waterstones-welcomes-kindle-%E2%80%98light-hearted%E2%80%99-campaign.html|access-date=18 January 2013|newspaper=The Bookseller|date=25 October 2012}} The Kindles were tailored with Waterstones screensavers, which led to some complaints and customers attempting to return their devices.{{cite news|last=Farrington|first=Joshua |title=Waterstones-branded screensavers prompt complaints |url=http://www.thebookseller.com/news/waterstones-branded-screensavers-prompt-complaints.html|access-date=18 January 2013|newspaper=The Bookseller|date=6 December 2012}} The release of the Kindle coincided with a relaunch of the company's brand in the same month, pushing the message that the chain was the "nation's leading bookshop" and producing an exclusive anthology, the Waterstones Red Anthology, to help promote the shops.{{cite news|last=Campbell|first=Lisa|title=Waterstones begins new branding push |url=http://www.thebookseller.com/news/waterstones-begins-new-branding-push.html|access-date=18 January 2013|newspaper=The Bookseller|date=5 October 2012}}

By the end of 2012, the Waterstones estate had shrunk to 288 shops, with "commercial reasons" given for the closure of branches in Bromsgrove, Stevenage,{{cite news|last=Campbell|first=Lisa|title=Waterstones in Bromsgrove closes|url=http://www.thebookseller.com/news/waterstones-bromsgrove-closes.html|access-date=18 January 2013|newspaper=The Bookseller|date=26 July 2012}} Watford,{{cite news|last=Farrington|first=Joshua|title=Watford Waterstone's to close |url=http://www.thebookseller.com/news/watford-waterstone%E2%80%99s-close.html|access-date=18 January 2013|newspaper=The Bookseller|date=5 December 2012}} Fleet Street, High Holborn and Epsom{{cite news|last=Allen |first=Katie|title=Waterstones to close Epsom store|url=http://www.thebookseller.com/news/waterstones-close-epsom-store.html|access-date=18 January 2013|newspaper=The Bookseller|date=22 February 2012}} among others, with staff being redeployed where possible. In 2012, Daunt stated that future expansion was being considered, based on the performance of the company. The accounts for the year to 2012 showed Waterstones, prior- and post-acquisition had made losses of £37.3 million.{{Cite news |url=https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9851128/Waterstones-boss-pledges-to-revive-companys-fortunes-after-a-37m-loss.html|title=Waterstones boss pledges to revive company's fortunes after a £37m loss|last=Ebrahimi|first=Helia|date=5 February 2013 |newspaper=The Telegraph|access-date=1 May 2017|language=en}}

File:Waterstones Cirencester Geograph-4827555.jpg branch]]

An overhaul of the company's business strategy started in 2012, with centralised decision-making giving way to shop-based decisions and a renewed emphasis on traditional bookselling techniques.{{Cite news|last=Rankin|first=Jennifer|date=4 October 2013|newspaper=The Guardian |issn=0261-3077|language=en |url=https://www.theguardian.com/books/2013/oct/04/waterstones-kindle-amazon-losses|title=Waterstones can live with Amazon and stem losses, says James Daunt|access-date=1 May 2017}} Waterstones embarked on a major restructuring of staffing levels, with a company-wide consultation with 560 managerial staff to subsequently reduce roles within the company.{{Cite web |url=http://www.thebookseller.com/news/major-restructure-waterstones-management-staff|title=Major restructure for Waterstones management staff |work=The Bookseller |last=Campbell |first=Lisa |date=1 May 2013 |language=en |access-date=1 May 2017 |url-status=live |url-access=subscription |archive-url=https://web.archive.org/web/20160326171101/http://www.thebookseller.com/news/major-restructure-waterstones-management-staff |archive-date=26 March 2016}} This consultation led to Head Office staff departures{{Cite web |last=Farrington |first=Joshua |date=13 November 2013 |work=The Bookseller |language=en |url=http://www.thebookseller.com/news/departures-waterstones-buying-evolution |title=Departures at Waterstones in buying 'evolution' |access-date=1 May 2017 |archive-url=https://web.archive.org/web/20160412010824/http://www.thebookseller.com/news/departures-waterstones-buying-evolution |archive-date=12 April 2016}} and around 200 branch and regional managers leaving their posts.{{Cite web |last=Campbell |first=Lisa |date=6 September 2013 |work=The Bookseller |language=en |url=http://www.thebookseller.com/news/waterstones-restructure-nears-completion|title=Waterstones restructure nears completion |access-date=1 May 2017 |archive-url=https://web.archive.org/web/20160411233622/http://www.thebookseller.com/news/waterstones-restructure-nears-completion |archive-date=11 April 2016 |url-status=live |url-access=subscription}} Waterstones launched a number of new partnerships through the year, including with the University of Derby to launch a professional qualification programme for its staff,{{Cite web|url=http://www.thebookseller.com/news/waterstones-launch-bookselling-certificate|title=Waterstones to launch bookselling certificate |work=The Bookseller|last=Campbell|first=Lisa|date=25 February 2013|language=en |access-date=1 May 2017 |url-status=live |url-access=subscription |archive-url=https://web.archive.org/web/20160411222320/http://www.thebookseller.com/news/waterstones-launch-bookselling-certificate |archive-date=11 April 2016}} with the Folio Society to extend customer reach and stock selection in London-based bookshops,{{Cite web |url=http://www.thebookseller.com/news/folio-partners-waterstones|title=Folio partners with Waterstones |work=The Bookseller |last=Campbell |first=Lisa |date=22 October 2013 |language=en |access-date=1 May 2017 |url-status=live |archive-url=https://web.archive.org/web/20160412073502/http://www.thebookseller.com/news/folio-partners-waterstones |archive-date=12 April 2016 |url-access=subscription}} and partnering with a new charity, BookTrust.{{Cite web |url=https://www.waterstones.com/help/book-trust/49 |title=Waterstones and BookTrust |publisher=Waterstones |language=en |access-date=1 May 2017}} By the end of 2013, Waterstones had cut its losses to £12.2 million, opened 12 further Café W outlets, and embarked on a capital investment in its shop portfolio of £29.5 million.{{Cite news |last=Dennys |first=Harriet |date=4 February 2014 |newspaper=The Telegraph |url=https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10612317/Waterstones-turns-a-corner-under-Russian-ownership.html |title=Waterstones turns a corner under Russian ownership |access-date=1 May 2017 |language=en}}

In 2014, they opened new shops in Ringwood, Blackburn and Southwold, its first branch to be without Waterstones branding,{{Cite news|url=https://www.independent.co.uk/news/uk/home-news/first-costa-now-waterstones-could-be-final-straw-for-sleepy-southwold-9552898.html|title=First Costa, now Waterstones could be final straw for sleepy Southwold|date=20 June 2014|newspaper=The Independent|first=Nick|last=Clark |access-date=1 May 2017|language=en}} as well as closing shops in Eastleigh and St Neots.{{Cite web |url=http://www.thebookseller.com/news/eastleigh-and-st-neots-waterstones-close|title=Eastleigh and St Neots Waterstones to close |work=The Bookseller|last=Campbell|first=Lisa|date=1 July 2014|language=en|access-date=1 May 2017|url-status=live|archive-url=https://web.archive.org/web/20160411221023/http://www.thebookseller.com/news/eastleigh-and-st-neots-waterstones-close |archive-date=11 April 2016 |url-access=subscription}} Continued business strategy change saw further departures from head office in brand communication and PR{{Cite web |url=http://www.prweek.com/article/1296126/waterstones-md-james-daunt-explains-departure-senior-comms-duo|title=Waterstones senior comms duo depart|last=Nias|first=Simon|website=PR Week|date=29 May 2014|access-date=1 May 2017}} and a renewed agency contract for Waterstones' digital marketing with Epiphany.{{Cite news |url=http://www.thedrum.com/news/2014/12/23/waterstones-renews-partnership-digital-marketing-agency-epiphany|title=Waterstones renews partnership with digital marketing agency Epiphany |last=McCarthy|first=John|work=The Drum|date=23 December 2014|access-date=1 May 2017 |language=en}} The retailer overhauled its business technology with new algorithms on its website to help personalise the online shopping experience,{{Cite news |url=http://internetretailing.net/2015/07/waterstones-turns-to-data-driven-technology-to-put-the-bookshop-experience-online/ |title=Waterstones turns to data-driven technology to put the bookshop experience online |last=Rigby |first=Chloe |date=31 July 2015|work=InternetRetailing|access-date=1 May 2017 |language=en}} updated point-of-sale IT{{Cite web|last=Sillitoe|first=Ben|url=http://www.essentialretail.com/in-store-ops/article/54228f866381c-waterstones-places-focus-on-in-store-point-of-sale|archive-url=https://web.archive.org/web/20171016174659/http://www.essentialretail.com/in-store-ops/article/54228f866381c-waterstones-places-focus-on-in-store-point-of-sale|url-status=dead|archive-date=16 October 2017|title=Waterstones places focus on in-store point of sale|date=24 September 2014|website=Essential Retail|access-date=1 May 2017}} and by introducing contactless payment in its shops.{{Cite web|last=Campbell|first=Lisa|date=1 July 2015 |title=Waterstones to introduce contactless payment |work=The Bookseller |url=http://www.thebookseller.com/news/waterstones-introduce-contactless-payment-307852|language=en|archive-url=https://web.archive.org/web/20160411225421/http://www.thebookseller.com/news/waterstones-introduce-contactless-payment-307852 |archive-date=11 April 2016|access-date=1 May 2017}} The retailer partnered with Airbnb to hold a one-off "sleepover" for customers in its Piccadilly branch in October 2014 after a customer was accidentally trapped in the Trafalgar Square branch after closing.{{Cite news |last=Bausells|first=Marta |url=https://www.theguardian.com/books/booksblog/2014/oct/21/night-at-the-bookshop-waterstones-stages-a-sleepover-after-a-tourist-got-trapped-in-the-store|title=Night at the bookshop: Waterstones stages a sleepover after a tourist got trapped in the store |date=21 October 2014|newspaper=The Guardian|access-date=1 May 2017 |language=en|issn=0261-3077}} Accounts for 2014 saw operating income losses narrow to £3.8 million, but sales slip by 5.9%.{{Cite news|last=Bowers|first=Simon|date=5 February 2015 |url=https://www.theguardian.com/books/2015/feb/05/waterstones-losses-sales-britains-biggest-bookshop-chain|title=Waterstones reduces losses despite dip in sales|newspaper=The Guardian |access-date=1 May 2017|language=en|issn=0261-3077}}

The ongoing strategic changes made to the way the business operates{{Cite web|last=Campbell|first=Lisa|date=24 June 2015 |title=Daunt: 'higher energy booksellers' at Waterstones |url=http://www.thebookseller.com/news/daunt-higher-energy-booksellers-waterstones-304598 |work=The Bookseller|archive-url=https://web.archive.org/web/20160411191024/http://www.thebookseller.com/news/daunt-higher-energy-booksellers-waterstones-304598 |archive-date=11 April 2016 |language=en |access-date=1 May 2017}} included the decision in October 2015, after three years on sale in shops, to remove the Kindle from its offer following "pitiful" sales and handing the retail space over to books.{{Cite news |url=https://www.independent.co.uk/arts-entertainment/books/news/waterstones-to-remove-amazons-kindle-from-stores-due-to-pitiful-sales-a6686011.html|title=Waterstones to remove Amazon's Kindle from shops|last=Shepherd|first=Jack|date=8 October 2015|newspaper=The Independent|access-date=1 May 2017 |language=en}} This was followed, after a failed attempt to buy BlinkBox books from Tesco in January 2015,{{Cite web|url=http://www.thebookseller.com/news/blinkbox-books-close-after-waterstones-talks-fail|title=blinkbox Books to close after Waterstones talks fail |work=The Bookseller |last=Campbell |first=Lisa |date=15 January 2015|access-date=13 May 2017|archive-url=https://web.archive.org/web/20160412032112/http://www.thebookseller.com/news/blinkbox-books-close-after-waterstones-talks-fail |archive-date=12 April 2016|language=en}} with Waterstones announcing it had sold its e-book business to Rakuten Kobo Inc. in May 2016,{{Cite news|date=23 May 2016|work=SEENIT |url=http://www.seenit.co.uk/waterstones-quits-ebooks-hands-business-to-kobo/|title=Waterstones quits ebooks, hands business to Kobo|access-date=1 May 2017|language=en}} subsequently directing customers who had purchased e-books through the retailer to access their e-books via Kobo's eBook site.{{Cite news |url=https://www.independent.co.uk/news/business/news/waterstones-to-stop-selling-e-books-a7043646.html|title=Waterstones is stopping selling e-books|last=Rodionova|first=Zlata|date=23 May 2016|newspaper=The Independent|access-date=1 May 2017|language=en}} This sale represented an exit from the e-book and e-reader market for Waterstones after eight years and multiple platforms.{{Cite web|url=http://www.thebookseller.com/news/waterstones-kobo-deal-makes-uk-e-book-market-two-player-game-330279 |last=Campbell |first=Lisa|date=23 May 2016|title=Waterstones exits 'duopoly' e-book market |work=The Bookseller|language=en |access-date=13 May 2017|url-status=live|url-access=subscription |archive-url=https://web.archive.org/web/20160525120421/http://www.thebookseller.com/news/waterstones-kobo-deal-makes-uk-e-book-market-two-player-game-330279 |archive-date=25 May 2016}}

File:Waterstones Birmingham High St.jpg branch, with an updated style signage following refurbishment]]

The company partnered with Oxfam in 2015 to raise £1 million for those impacted by the Syrian civil war crisis through a nationwide campaign called "Buy Books for Syria".{{Cite web |last=Campbell |first=Lisa |date=25 September 2015 |url=http://www.thebookseller.com/news/waterstones-launches-buy-books-syria-appeal-raise-1m-313293 |title=Waterstones launches 'Books for Syria' appeal to raise £1m |work=The Bookseller |language=en |access-date=1 May 2017 |archive-url=https://web.archive.org/web/20160412072650/http://www.thebookseller.com/news/waterstones-launches-buy-books-syria-appeal-raise-1m-313293 |archive-date=12 April 2016}} Further changes to shops were made in 2015, with the closure of Wimbledon{{Cite web |last=Campbell |first=Lisa |url=http://www.thebookseller.com/news/waterstones-wimbledon-close-next-month-307492 |title=Waterstones Wimbledon to close next month |work=The Bookseller |language=en |access-date=1 May 2017 |archive-url=https://web.archive.org/web/20160411232706/http://www.thebookseller.com/news/waterstones-wimbledon-close-next-month-307492 |archive-date=11 April 2016 |date=21 July 2015}} and Birmingham New Street,{{Cite news |url=http://www.birminghammail.co.uk/news/midlands-news/new-giant-apple-store-open-10169035 |title=New giant Apple store to open in Waterstones New Street building |last=Brown |first=Graeme |date=1 October 2015 |work=BirminghamLive |access-date=1 May 2017}} the opening of The Rye Bookshop{{Cite news |last=Lanigan |first=Seana |url=http://www.ryenews.org.uk/living/bookshop-rumour-confirmed |title=Bookshop rumour confirmed |date=18 June 2015 |work=Rye News |access-date=1 May 2017 |language=en}} and a return to Welwyn Garden City.{{Cite news |url=http://www.whtimes.co.uk/news/waterstones-to-bring-a-bookshop-back-to-welwyn-garden-city-1-4122894 |title=Waterstones to bring a bookshop back to Welwyn Garden City |last=Metcalfe |first=Neil |work=Welwyn Hatfield Times |access-date=1 May 2017 |language=en}} The company reported an operating income of £5.4 million and a further narrowing of losses to £4.5 million from £18.8 million the previous year.{{Cite news |url=https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/12137948/Waterstones-turns-a-page-as-sale-rise.html |title=Waterstones turns a page as sales rise |last=Armstrong |first=Ashley |date=3 February 2016 |newspaper=The Telegraph |access-date=1 May 2017 |language=en}}

In a 2016 interview, Daunt stated that Amazon "defines how Waterstones acts"; further, while Waterstones could not compete with the internet retailer digitally, it could offer a credible alternative, believing there was "a future in physical bookselling".{{Cite web |last=Onuwuemez |first=Natasha |url=http://www.thebookseller.com/news/daunt-amazon-defines-how-waterstones-acts-326147 |title=Daunt: 'Amazon defines how Waterstones acts' |work=The Bookseller |date=11 April 2016 |language=en |access-date=1 May 2017 |url-status=live |archive-url=https://web.archive.org/web/20160411181517/http://www.thebookseller.com/news/daunt-amazon-defines-how-waterstones-acts-326147 |archive-date=11 April 2016|url-access=subscription}} Waterstones continued to look at "fixing the basics" during 2016, such as adjusting shop opening hours and harnessing data from the loyalty card{{Cite news |url=http://www.thedrum.com/news/2016/02/26/waterstones-e-commerce-boss-fix-basics-showboating |title=Waterstones e-commerce boss: 'Fix the basics before showboating' |last=Faull |first=Jennifer |date=26 February 2016 |work=The Drum |access-date=1 May 2017 |language=en}} as well as the refurbishment of physical shops, including the Canterbury branch,{{Cite news |url=http://www.kentlive.news/waterstones-in-canterbury-is-about-to-open-a-new-floor-and-a-200-seat-events-space/story-29823263-detail/story.html |title=Waterstones in Canterbury is about to open a new floor and a 200-seat events space |last=MacDougall |first=Lauren |date=19 October 2016 |work=Kent Live |access-date=1 May 2017 |language=en }}{{Dead link|date=August 2024 |bot=InternetArchiveBot |fix-attempted=yes }} and work on its e-commerce routes through improvements to product ranking.{{Cite news |title=How canonical tags helped Waterstones solve a product ranking nightmare |last=Davis |first=Ben |date=5 May 2016 |work=Econsultancy |url=https://econsultancy.com/blog/67811-how-canonical-tags-helped-waterstones-solve-a-product-ranking-nightmare/ |access-date=1 May 2017}} Shops in Oxford Street Plaza, Edinburgh George Street{{Cite web |last=Campbell |first=Lisa |date=9 June 2016 |language=en |url=http://www.thebookseller.com/news/waterstones-close-two-stores-open-one-wimbledon-333421 |title=Waterstones to close two stores but open one in Wimbledon |work=The Bookseller |access-date=1 May 2017 |url-status=live |url-access=subscription |archive-url=https://web.archive.org/web/20160611050117/http://www.thebookseller.com/news/waterstones-close-two-stores-open-one-wimbledon-333421 |archive-date=11 June 2016}} and Reading Oracle{{Cite web |last=Cowdrey |first=Katherine |date=13 January 2016 |work=The Bookseller |url=http://www.thebookseller.com/news/waterstones-reading-oracle-closes-down-320293|title=Waterstones closes Reading Oracle store |language=en |access-date=1 May 2017 |url-status=live |archive-url=https://web.archive.org/web/20160411201926/http://www.thebookseller.com/news/waterstones-reading-oracle-closes-down-320293 |archive-date=11 April 2016 |url-access=subscription}} were closed, Harpenden Books,{{Cite web |last=Campbell |first=Lisa |date=6 April 2016 |language=en |work=The Bookseller |url=http://www.thebookseller.com/news/waterstones-opens-harpenden-books-325650 |title=Waterstones opens 'Harpenden Books' |access-date=1 May 2017 |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20160411193709/http://www.thebookseller.com/news/waterstones-opens-harpenden-books-325650 |archive-date=11 April 2016}} Glasgow Fort{{Cite news |url=http://www.glasgowlive.co.uk/news/glasgow-news/waterstones-officially-opening-glasgow-fort-12328774 |title=Waterstones officially opening at Glasgow Fort this weekend |last=Russell |first=Jennifer|date=15 December 2016|work=GlasgowLive |access-date=1 May 2017}} and Tottenham Court Road{{Cite web |url=https://www.retailgazette.co.uk/blog/2015/08/waterstones-to-open-a-three-storey-store-as-customers-return-to-reading-books |title=Waterstones to open a three-storey store as customers return to reading books |work=Retail Gazette |last=Sabharwal |first=Veebs |date=14 August 2015 |access-date=1 May 2017 |language=en}} were opened and Wimbledon and Watford{{Cite web |last=Campbell|first=Lisa|date=25 August 2016 |url=http://www.thebookseller.com/news/waterstones-return-watford-383036|title=Waterstones to return to Watford |work=The Bookseller|language=en |access-date=1 May 2017|archive-url=https://web.archive.org/web/20160830205051/http://www.thebookseller.com/news/waterstones-return-watford-383036|archive-date=30 August 2016|url-status=live|url-access=subscription}} were reopened in new sites. The newly opened shops benefitted from a refreshed brand look, widely welcomed by the book trade.{{Cite web |url=http://www.thebookseller.com/news/trade-praises-fresh-new-waterstones-store-321997|title=Trade praises 'fresh' new Waterstones store |work=The Bookseller |last=Campbell |first=Lisa |date=4 February 2016 |language=en|access-date=1 May 2017|archive-url=https://web.archive.org/web/20160412005152/http://www.thebookseller.com/news/trade-praises-fresh-new-waterstones-store-321997|archive-date=12 April 2016|url-status=live|url-access=subscription}} The retailer renewed its partnership with Oxfam to continue to raise money for the Syrian crisis, donating £5 for each "Book of the Month" sold in-shop during November 2016.{{Cite web |url=http://www.thebookseller.com/news/waterstones-launches-new-refugee-campaign-after-escalation-crisis-424216 |title=Waterstones launches new refugee campaign after 'escalation' of crisis |work=The Bookseller|last=Campbell|first=Lisa|date=31 October 2016 |language=en|access-date=1 May 2017|url-status=live|archive-url=https://web.archive.org/web/20161102163429/http://www.thebookseller.com/news/waterstones-launches-new-refugee-campaign-after-escalation-crisis-424216|archive-date=2 November 2016|url-access=subscription}} Daunt made public his concern that the UK EU referendum was likely to impact on company sales due to an expected retail downturn following a 'no' vote.{{Cite news |url=https://www.theguardian.com/books/2016/jun/14/waterstones-boss-warns-staff-job-cuts-will-follow-if-uk-leaves-eu |title=Waterstones boss warns staff job cuts will follow if UK leaves EU|last=Wood|first=Zoe|date=14 June 2016|newspaper=The Guardian|access-date=1 May 2017|language=en |issn=0261-3077}} He later noted that sales had remained "buoyant" following the decision to leave the European Union, but remained pessimistic for the future.{{Cite news |url=https://www.theguardian.com/books/2017/feb/03/balancing-the-books-how-waterstones-returned-to-profit |title=Balancing the books: how Waterstones came back from the dead |last=Armitstead |first=Claire |date=3 February 2017 |newspaper=The Guardian |access-date=1 May 2017 |language=en |issn=0261-3077}}

Accounts show that in the year ending April 2016, Waterstones made its first profit in seven years, of £11.7 million.{{Cite news |url=https://www.telegraph.co.uk/business/2017/02/01/waterstones-returns-profit-thanks-return-traditional-bookselling/ |title=Waterstones returns to profit thanks to a return to 'traditional bookselling' |last=Bury |first=Rhiannon |date=1 February 2017 |newspaper=The Telegraph |access-date=1 May 2017 |language=en}} This included increased profits in Ireland, with sales rising 7% over the year,{{Cite news |url=http://www.irishtimes.com/business/retail-and-services/waterstones-profits-in-ireland-double-in-year-to-april-2016-1.2991524 |title=Waterstones' profits in Ireland double in year to April 2016 |last=Slatterly |first=Laura |date=28 February 2017 |newspaper=The Irish Times |access-date=1 May 2017 |language=en}} with the company expressing a desire to open more shops in Ireland.{{Cite news |url=http://www.newstalk.com/Waterstones-hopes-to-open-more-stores-in-Ireland |title=Waterstones hopes to open more stores in Ireland |last=Conway |first=Joeseph |date=24 February 2016 |work=newstalk.com |access-date=1 May 2017 |language=en}} The management board was reduced from seven members to three in August 2016, with the departure of Miranda Curtis and a statement that the future composition was under review.{{Cite web |url=http://www.thebookseller.com/news/waterstones-four-board-members-step-down-369621 |title=Waterstones: four board members step down |work=The Bookseller |last=Campbell |first=Lisa |date=2 August 2016 |language=en |access-date=1 May 2017 |archive-url=https://web.archive.org/web/20160805101408/http://www.thebookseller.com/news/waterstones-four-board-members-step-down-369621 |archive-date=5 August 2016|url-access=subscription |url-status=live}} Waterstones announced it had raised £300,000 for BookTrust in three years since partnering, and would continue the partnership for a fourth year.{{Cite news |url=https://www.charitytoday.co.uk/waterstones-raises-300000-booktrust/ |title=Waterstones raises £300,000 for BookTrust |date=23 March 2016 |work=Charity Today News |archive-url=https://web.archive.org/web/20160328163606/https://www.charitytoday.co.uk/waterstones-raises-300000-booktrust/ |archive-date=28 March 2016 |access-date=1 May 2017 |language=en}}

In April 2018, hedge fund Elliott Management Corporation bought a majority stake in the company, leaving Alexander Mamut's Lynwood Investments with a minority holding.{{cite news |last=Hoggan|first=Karen|title=Waterstones bookshop chain sold to Elliott Advisors |url=https://www.bbc.co.uk/news/business-43903920 |access-date=28 April 2018|work=BBC News|date=26 April 2018}} The sale completed in early June 2018.{{cite news |last=Campbell |first=Lisa |title=Waterstones sale to Elliott completes |url=https://www.thebookseller.com/news/waterstones-sale-elliott-completes-800711 |access-date=30 May 2019 |url-status=live |work=The Bookseller |date=6 June 2018 |archive-url=https://web.archive.org/web/20180616194318/https://www.thebookseller.com/news/waterstones-sale-elliott-completes-800711|archive-date=16 June 2018|url-access=subscription}} Daunt remained as chief executive.{{cite news |last=Eley |first=Jonathan |title=Activist fund Elliott buys British bookstore Waterstones |url=https://www.ft.com/content/faa362a4-491d-11e8-8ee8-cae73aab7ccb |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/faa362a4-491d-11e8-8ee8-cae73aab7ccb |archive-date=10 December 2022 |url-access=subscription|access-date=28 April 2018|newspaper=Financial Times|date=26 April 2018}}

In 2021, an article in The Bookseller reported that Waterstones were planning a collaboration with Next to have Waterstones within some Next stores.{{Cite web |last=Chandler |first=Mark |date=15 February 2021 |title=Waterstones to open Next concession store in new partnership |work=The Bookseller |url=https://www.thebookseller.com/news/waterstones-open-next-concession-store-new-partnership-1237550 |url-status=live |archive-url=https://web.archive.org/web/20210308042110/https://www.thebookseller.com/news/waterstones-open-next-concession-store-new-partnership-1237550|archive-date=8 March 2021|url-access=subscription}} In April 2022, a new Waterstones within Next in Martlesham, Ipswich, was announced.{{Cite web |last=Williams |first=Angus |date=25 April 2022 |title=New Waterstones for retail park in Ipswich |website=East Anglia Daily Times |url=https://www.ipswichstar.co.uk/news/business/waterstones-opening-martlesham-beardmore-retail-park-8920660}}

In 2022, Waterstones purchased Blackwell's, the largest independent bookstore in the UK, for an undisclosed sum. The acquisition was done under US hedge fund Elliott Investment Management.{{Cite news |date=28 February 2022 |title=Waterstones acquires Blackwell's, the UK's biggest independent bookseller |url=https://www.theguardian.com/books/2022/feb/28/waterstones-acquires-blackwells-the-uks-biggest-independent-bookseller|first=Jem |last=Bartholomew |access-date=18 April 2022 |newspaper=The Guardian |language=en}}

Acquired in 1995 by the Thorn EMI group, Dillons was the UK's second-largest bookseller behind Waterstones and was the bookselling arm of EMI's retail division, which included HMV.{{cite news|title=WH Smith unloads book shop chain|url=http://news.bbc.co.uk/1/hi/business/59970.stm|access-date=6 January 2012|date=25 February 1998|work=BBC News}} Dillons had acquired Hatchards. Following the demerger of Thorn and EMI in 1996, the retail arm was divested from the EMI portfolio within a year and spun off into the HMV Media Group, an investment venture between EMI Group and Advent International private equity group.{{cite web|author=WH Smith PLC|title=History of WH Smith: 1990-Today |url=http://www.whsmithplc.co.uk/about_whsmith/history_of_whsmith/|work=WH Smith Company Information|access-date=17 January 2012}} This venture included HMV, Dillons and Waterstones (the latter bought from WHSmith for £300 million), combining to make an international entertainment retailer of more than 500 shops. Following a rebuffed takeover attempt in 1997 of WHSmith, Tim Waterstone became part of the deal and by May 1998, following the £801 million-deal completion became chairman of the group. All Dillons shops were incorporated within the Waterstones brand by 1998.{{cite web |last=Davies|first=John|title=Bookstore wars are brewing .. |url=http://www.timeshighereducation.co.uk/story.asp?storyCode=107214§ioncode=26|at=Times Higher Education Supplement|work=The Times |date=8 May 1998|location=UK|access-date=6 January 2012}}

File:Northallerton Waterstones cropped.JPG branch]]

In September 2005, HMV Group began attempts to buy rival book chain Ottakar's. This alarmed publishers and authors,{{cite news |title=Authors mourn takeover of Ottakar's|date=1 June 2006|first= Susie |last=Mesure|work=The Independent |location=London |url=https://www.independent.co.uk/news/business/news/authors-mourn-takeover-of-ottakars-480611.html |access-date=6 January 2012 }} who hoped the Office of Fair Trading would refer the takeover bid to the Competition Commission. In March 2006, the Competition Commission cleared Waterstones for takeover of the Ottakar's, stating that the takeover would "not result in a substantial lessening of competition", and is "not likely to affect book prices, range of titles offered or quality of service". Through extensive research, they also found that "contrary to widespread perception, Waterstones, like Ottakar's, operates a book-buying system which mixes central and local input on stock selection."{{cite news |title=HMV-Ottakar's deal gets go-ahead |date=12 May 2006 |url=http://news.bbc.co.uk/1/hi/business/4764313.stm |access-date=6 September 2012 |work=BBC News}}

On 31 May 2006, Waterstones announced that it had successfully negotiated the takeover of Ottakar's. HMV chief executive Alan Giles said: "A combined Waterstones and Ottakar's business will create an exciting, quality bookseller, able to respond better to the increasingly competitive pressures of the retail market." Ottakar's chairman Philip Dunne said: "Over the last year the book market has undergone a significant change with new levels of competition from the supermarkets and online retailers impacting all specialist booksellers and in particular those with insufficient scale to compete on equal terms."{{cite news| first=Stephen| last=Seawright| date=31 May 2006| title=Ottakar's falls to Waterstone| newspaper=The Daily Telegraph| location=London| url=https://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/05/31/uotak31.xml&sSheet=/money/2006/05/31/ixcitytop.html| access-date=27 May 2010| archive-url=https://web.archive.org/web/20070311125341/http://www.telegraph.co.uk/money/main.jhtml?xml=%2Fmoney%2F2006%2F05%2F31%2Fuotak31.xml&sSheet=%2Fmoney%2F2006%2F05%2F31%2Fixcitytop.html| archive-date=11 March 2007}}

Following the takeover, HMV announced that they would be rebranding every branch of Ottakar's as a Waterstones. In July 2006, a conversion programme was initiated and within four months, every Ottakar's shop had been relaunched as a Waterstones and had seen the loss of 100 jobs.

{{cite news| first=Susie| last=Mesure| date=7 July 2006| title=HMV axes Ottakar brand and 100 jobs as sales continue to slide| url=https://www.independent.co.uk/news/business/news/hmv-axes-ottakar-brand-and-100-jobs-as-sales-continue-to-slide-407009.html| location=London| publisher=Independent News & Media| archive-url=https://web.archive.org/web/20121104175127/http://www.independent.co.uk/news/business/news/hmv-axes-ottakar-brand-and-100-jobs-as-sales-continue-to-slide-407009.html| archive-date=4 November 2012| newspaper=The Independent| access-date=27 May 2010}}

In August 2008, the now-defunct Borders chain agreed to sell eight Books Etc. shops to Waterstones for an undisclosed sum. The takeover, which represented {{Convert|34000|ft2}} of retail space and incurred no staff losses, increased Waterstones' presence within London to almost 50 shops, "crucially [in] areas that are not represented by Waterstones bookshops". The shops, in Fleet Street, London Wall, Holborn, Wandsworth, Uxbridge, Finchley Road and Canary Wharf, were rebranded and merged into the Waterstones chain by September 2008.{{cite news |url=http://www.thebookseller.com/news/waterstones-takes-eight-books-etc-shops.html |last=Neill |first=Graeme |date=18 August 2008 |title=Waterstone's Takes Over Books etc Stores |work=The Bookseller |archive-date=6 March 2016 |archive-url=https://web.archive.org/web/20160306194626/http://www.thebookseller.com/news/waterstones-takes-eight-books-etc-shops}}

In September 2018, Waterstones confirmed it would buy 115-year-old Foyles, with seven stores, while retaining the brand. James Daunt said the purchase would help "to protect and champion the pleasures of real bookshops in the face of Amazon's siren call".

In February 2022, Waterstones acquired Blackwell's for an undisclosed sum.{{Cite news |date=1 March 2022 |title=Oxford bookseller Blackwell's sold to Waterstones |language=en-GB |work=BBC News |url=https://www.bbc.com/news/uk-england-oxfordshire-60570642 |access-date=18 April 2022}}

Tim Waterstone and James Daunt have been critical of tax avoidance by Amazon.com in the British press.{{cite news |first=Tom |last=Parry|title=Fairer Trading: Your Essential Guide on how to Dodge the Tax Avoiders|newspaper=Daily Mirror|date=19 November 2012 |url=https://www.mirror.co.uk/money/personal-finance/fairer-trading-your-essential-guide-1444646}}{{cite web |url=http://www.thebookseller.com/news/daunt-questions-amazon-warehouse-practises.html|title=Daunt questions Amazon over tax subsidies |work=The Bookseller |date=18 February 2013 |access-date=24 September 2016 |archive-date=12 April 2016 |archive-url=https://web.archive.org/web/20160412044128/http://www.thebookseller.com/news/daunt-questions-amazon-over-tax-subsidies}} Amazon has received sustained scrutiny for the amount of its overall sales that are reported by its UK subsidiary, in comparison to those "processed offshore in Luxembourg to avoid UK tax".{{cite news| date=9 May 2014 |url=https://www.independent.co.uk/news/business/news/margaret-hodge-tells-amazon-to-pay-a-fair-tax-9347846.html |title=Margaret Hodge tells Amazon to 'pay a fair tax'|first=Gideon|last=Spanier |location=London |work=The Independent}} In the 2012–13 financial year, Amazon paid £3.2 million in tax on sales of £4.2 billion and received £2.5 million in grants from the government.{{cite news |url=https://www.theguardian.com/business/2013/may/15/amazon-uk-tax-3m|title=Amazon paid £3m tax on £4bn UK sales|first=Juliette |last=Garside |date=15 May 2013|work=The Guardian|access-date=24 September 2016}} In the same period, it was revealed that Waterstones paid £11.9 million in tax, despite an operating loss of £25.4 million and sales of £410.4 million.{{cite web |url=http://www.thebookseller.com/news/media-reports-waterstones-torrid-results.html|title=Media reports on Waterstones' 'torrid' results |work=The Bookseller|first=Lisa|last=Campbell|access-date=24 September 2016 |archive-date=6 March 2016 |archive-url=https://web.archive.org/web/20160306200936/http://www.thebookseller.com/news/media-reports-waterstones-torrid-results}}{{cite web |url=http://www.thebookseller.com/news/daunt-two-years-transform-waterstones.html|title=Daunt: 'Two years' to transform Waterstones|first=Lisa|last=Campbell|work=The Bookseller|access-date=24 September 2016 |archive-url=https://web.archive.org/web/20160412014419/http://www.thebookseller.com/news/daunt-two-years-transform-waterstones |archive-date=12 April 2016}}

In a report on tax avoidance in the book industry, the magazine Ethical Consumer argued that A&NN Capital Fund Management, Waterstones' parent company in Bermuda, "likely to be for tax avoidance purposes".{{cite magazine|title=Tax avoidance by e-reader and bookshop companies|magazine=Ethical Consumer|date=May 2013 |url=http://www.ethicalconsumer.org/ethicalreports/buyingbookswithoutamazon/tax.aspx}} (in the special report "Buying books without Amazon"). In response to this, Waterstones issued a clarification on their website reading "As a UK registered and domiciled business, Waterstones fulfils all its tax obligations. This will include both the payment and reporting of all necessary UK taxes, as set out under UK tax legislation."{{cite web |url=http://www.waterstones.com/waterstonesweb/pages/about-waterstones/100000002/ |title=About Us – Waterstones.com Help – Waterstones |access-date=24 September 2016}} In the 2013–14 financial period, the first full year under A&NN, Waterstones reported sales to Companies House of £398.5 million and an operating loss of £12.2 million.{{cite news |url=https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10612317/Waterstones-turns-a-corner-under-Russian-ownership.html |location=London |work=The Daily Telegraph |first=Harriet |last=Dennys |title=Waterstones turns a corner under Russian ownership |date=2 February 2014}}

File:Southwold Books.jpg

Waterstones opened its first non-branded shop in Southwold, Suffolk in July 2014 called Southwold Books.{{cite news |url=https://www.bbc.co.uk/news/uk-england-suffolk-28367688 |title=Southwold Bookshop: Waterstones store will 'damage character of town' |date=18 July 2014 |work=BBC News |access-date=2 May 2017}} The company decided not to use its branding as it wished to 'fit in' with the town's high proportion of independent retailers, but this move drew anger from local residents at the time as they viewed the move as "dishonest" and said that local shop rents were being increased because of retail chains moving in and this subsequently was "changing the character of the high street".

Non-branded Waterstones became an issue again in 2016 at a national level, following newspaper reports about not only Southwold Books but two further shops, The Rye Bookshop in Sussex and Harpenden Books in Hertfordshire, being opened and local residents not realising the connection with the retailer.{{Cite news|url=https://www.independent.co.uk/arts-entertainment/books/news/waterstones-defends-unbranded-shops-after-accusations-of-subterfuge-a7603331.html|title=Waterstones defends unbranded shops after accusations of 'subterfuge'|last=O'Connor |first=Roisin|date=28 February 2017|work=The Independent|access-date=2 May 2017 |language=en}}{{Cite news |url=https://www.telegraph.co.uk/news/2017/02/26/dont-judge-bookshop-cover-shoppers-warned-aswaterstones-opens/|title=Don't judge a bookshop by its cover, shoppers warned, as Waterstones opens three unbranded stores|last=Matthews|first=Jane|date=26 February 2017|work=The Telegraph|access-date=2 May 2017 |language=en}} Commentators were split on the ethics of the decision to open unbranded shops,{{Cite news |url=https://www.retail-week.com/sectors/entertainment/waterstones-row-are-its-unbranded-stores-fair-or-foul/7018936.article |title=Waterstones row: Are its unbranded stores fair or foul?|first=Emily|last=Hardy|author2=Luke Tugby |date=28 February 2017|work=Retail Week|access-date=2 May 2017 |language=en}}{{Cite news |url=https://www.theguardian.com/commentisfree/2017/mar/01/waterstones-chain-independent-business-whitstable |title=Whisper it: small towns need a Waterstones|date=1 March 2017|newspaper=The Guardian|first=Fay|last=Schopen|access-date=2 May 2017|language=en|issn=0261-3077}} but it was noted that at no point had attempts been made to hide the connection to the retailer.{{Cite web |url=http://www.scotsman.com/news/opinion/martyn-mclaughlin-outrage-aimed-at-waterstones-is-misdirected-1-4379322|title=Martyn McLaughlin: Outrage aimed at Waterstones is misdirected|last=McLaughlin|first=Martyn|date=1 March 2017|website=The Scotsman |language=en|access-date=2 May 2017}} In interviews, James Daunt denied any "subterfuge" and said he wanted for the shops to behave as independent retailers do and have their own identity. He further stated that more unbranded shops were likely to open in the future.{{Cite news |url=https://www.theguardian.com/books/2017/feb/27/waterstones-chief-defends-decision-to-open-unbranded-stores|title=Waterstones chief defends decision to open unbranded stores|last=Taylor|first=Matthew|date=27 February 2017|newspaper=The Guardian|access-date=2 May 2017|language=en|issn=0261-3077}}

Waterstones has worked with the British Safety Council to consider its environmental impact, including factors beyond its carbon footprint. After a 2008 audit, the Council awarded Waterstones three out of a possible five stars for environmental impact.{{cite journal |first=Uzoechi|last=Nwagbara |title=Waterstone's and the Changing Bookselling Environment in the UK: the Journey so far and Prospects |journal=Petroleum-Gas University of Ploiesti Bulletin |volume=LXII |issue=3 |year=2011 |pages=14–26 (p. 20) |url=http://upg-bulletin-se.ro/old_site/archive/2011-3/2.%20Nwagbara.pdf}}

{{As of|2019|03}}, Waterstones does not pay the "real living wage", as recommended by the Living Wage Foundation, and a rate significantly higher than the official National Living Wage. More than 1,300 writers backed a campaign to ask Waterstones to pay the "real living wage". In response Waterstone managing director James Daunt said the company was "simply not profitable enough" and that "there's a long gap between wanting to do something and it being remotely sensible". Waterstones said that only Ikea, Majestic and Lush or other similar large retailers pay the "real living wage".{{Cite news |url=https://www.theguardian.com/books/2019/mar/26/waterstones-says-it-cant-pay-living-wage-authors-petition-sally-rooney-val-mcdermid |title=Waterstones says it can't pay living wage, as 1,300 authors support staff appeal |last=Flood |first=Alison |date=26 March 2019|newspaper=The Guardian|access-date=26 March 2019 |language=en-GB|issn=0261-3077}}

Waterstones maintains and supports various literary awards, including the Waterstones Book of the Year, the Waterstones Children's Book Prize, the Waterstones Debut Fiction Prize, Waterstones Irish Book of the Year, the Pushkin House Russian Book Prize,{{cite news |last=Campbell|first=Lisa|date=23 November 2012|title=Waterstones to sponsor prize for Russian non-fiction|work=The Bookseller |url=http://www.thebookseller.com/news/waterstones-sponsor-prize-for-Russian-non-fiction.html|access-date=18 January 2013 |archive-url=https://web.archive.org/web/20160306133641/http://www.thebookseller.com/news/waterstones-sponsor-prize-russian-non-fiction |archive-date=6 March 2016}} and the Waterstones Children's Laureate, as well as now-defunct awards including the Waterstones 11 and the Guardian First Book Award.{{cite web|title=Guardian First Book Prize|work=Waterstone's |url=http://www.waterstones.com/waterstonesweb/pages/guardian-first-book/1923/|access-date=19 January 2012}} The company has also received various industry and consumer awards.

{{Main articles|Waterstones Book of the Year}}

File:Waterstones ground floor interior, SUTTON, Surrey, Greater London.jpg branch]]

The prize, which has been running since 2012, sees booksellers from across the company select a shortlist of books from any category, published at any time, before the winner is chosen by panel.{{Cite web |last=Campbell |first=Lisa |date=30 November 2012 |title=Polpo is Waterstones Book of the Year |url=http://www.thebookseller.com/news/polpo-waterstones-book-year |access-date=1 May 2017 |work=The Bookseller |archive-url=https://web.archive.org/web/20160411202249/http://www.thebookseller.com/news/polpo-waterstones-book-year |archive-date=11 April 2016|url-access=subscription |url-status=live |language=en}}

File:Waterstones Reading.jpg

{{main|Waterstones Children's Book Prize}}

Waterstones continued the Ottakar's Children's Book Prize under its own brand and since 2005, the Waterstone's Children's Book Prize has attempted "to uncover hidden talent in children's writing" by awarding authors with no more than two previously published books (adult or children's fiction).

{{Main articles|Waterstones Debut Fiction Prize}}

The Waterstones Debut Fiction Prize, established in 2022, is an annual literary award presented to the best debut fiction published in the previous 12 months.

{{Main articles|Waterstones 11}}

Set up in 2011, the Waterstones 11 was created to promote debut literary fiction from new authors being published in the year ahead.{{cite web |title=Waterstone's 11 – Our pick of the best first novels of 2011 |url=http://www.waterstones.com/waterstonesweb/pages/waterstones-11/2272/ |work=Waterstone's |access-date=6 January 2012|archive-url=https://web.archive.org/web/20111231200902/http://www.waterstones.com/waterstonesweb/pages/waterstones-11/2272/|archive-date=31 December 2011}} Books were chosen from a list of 100 submitted by publishers, and were announced in January 2011 with in-shop and online support, as well as a media campaign for the final 11.{{cite news|title=Waterstone's unveils debut authors book list |url=https://www.bbc.co.uk/news/entertainment-arts-12240422|access-date=6 January 2012|date=20 January 2011|work=BBC News}} The inaugural 11 included the Orange Prize winner The Tiger's Wife by Téa Obreht, Man Booker Prize nominee Pigeon English, by Stephen Kelman and the Edinburgh International Book Festival First Book Award winner When God Was a Rabbit by Sarah Winman. The last list was announced in January 2013,{{cite news|title=Carlos Acosta makes Waterstones debut prize shortlist |url=https://www.bbc.co.uk/news/entertainment-arts-21008778|access-date=15 January 2013 |date=14 January 2013|work=BBC News}} followed by the discontinuation of the prize in January 2014.{{citation needed|date=October 2018}}

Waterstones has academic and high-street shops in Europe including in:{{Primary source inline|date=January 2024|reason=This web page is a store locator and does not have detailed information.}}

• Great Britain (under the Waterstones and other brands throughout England, Scotland and Wales)
• Ireland (under the Waterstones brand in Ballymena, Belfast, Coleraine, Cork, Craigavon, Derry, Drogheda, Enniskillen, Lisburn and Newry, and under the Hodges Figgis brand in Dublin)
• The Isle of Man
• Jersey
• The Netherlands
• Belgium

Some branches in the company occupy buildings of architectural and historical interest.

{{anchor|flagship}}

Flagship superstores

Its flagship shop on Piccadilly, formerly the Simpsons of Piccadilly department store and notable for its 1930s-Modernist architecture, is the largest shop in the Waterstones estate and claimed to be the largest bookshop in Europe.{{cite web |url=https://www.waterstones.com/waterstonesweb/navigate.do?pPageID=200003 |title=Waterstones London – Piccadilly |access-date=24 September 2016}} The main academic branch, formerly the flagship shop of Dillons, is located on Gower Street, between University College London and the Student Central, and promoted as Europe's largest academic bookshop.{{cite web |url=https://www.waterstones.com/bookshops/gower-street |title=Waterstones London – Gower Street |work=Waterstones |access-date=24 September 2016 |url-status=deviated |archive-url=https://web.archive.org/web/20161016145519/https://www.waterstones.com/bookshops/gower-street |archive-date=16 October 2016}} Aside from these branches, Waterstones operates a number of large shops which are set over multiple floors. Waterstones refers to these shops as 'superstores':

• Piccadilly, London (formerly Simpsons of Piccadilly) – flagship branch with six floors and an estimated {{frac|8|1|2}} miles of shelving.{{cite web |title=Waterstone's – Piccadilly |url=http://www.waterstones.com/waterstonesweb/navigate.do?pPageID=200003 |work=Waterstone's |access-date=5 January 2012}} In 2012, the head office of the company was moved to the shop.{{cite web |last=Campbell |first=Lisa |date=14 March 2012 |url=http://www.thebookseller.com/news/waterstones-move-head-office-piccadilly.html |title=Waterstones to move head office to Piccadilly |work=The Bookseller |access-date=24 September 2016 |archive-url=https://web.archive.org/web/20160307020126/http://www.thebookseller.com/news/waterstones-move-head-office-piccadilly |archive-date=7 March 2016}}
• Gower Street, London – academic branch with five floors and 5 miles of shelving
• Sidney Street, Cambridge – set over four floors, and containing two cafes.
• Albion Street, Leeds set over three floors
• College Lane, Liverpool – two floors, including the largest open-plan floor of books in Europe.{{cite web |title=Waterstone's – Liverpool |url=https://www.waterstones.com/bookshops/liverpool-one |access-date=12 February 2017}}
• Deansgate, Manchester – three floors, with over 100,000 books in stock.{{cite web |title=Waterstone's – Deansgate |url=http://www.waterstones.com/waterstonesweb/navigate.do?pPageID=200002 |work=Waterstone's |access-date=5 January 2012}}
• Milsom Street, Bath – three floors, with over 55,000 books in stock.{{cite web |title=Waterstone's – Bath, Milsom Street |url=http://www.waterstones.com/waterstonesweb/navigate.do?pPageID=200005 |work=Waterstone's |access-date=5 January 2012}}
• La Scala Cinema,{{cite web |title= La Scala Cinema |url=http://www.scottishcinemas.org.uk/glasgow/lascala.html|work=Scottishcinema |access-date=6 January 2012}} Sauchiehall Street, Glasgow – five floors, set in a former cinema{{Cite news |title=Waterstone's – Glasgow Sauchiehall Street |url=http://www.waterstones.com/waterstonesweb/navigate.do?pPageID=200004 |work=Waterstone's |access-date=6 January 2012}}
• Bridlesmith Gate, Nottingham – five floors{{cite web |title=Waterstone's – Nottingham Bridlesmith |url=http://www.waterstones.com/waterstonesweb/navigate.do?pPageID=200001 |work=Waterstone's |access-date=6 January 2012}}

Shops of architectural and historical interest

• Hodges Figgis, Dublin (oldest bookshop in Ireland, founded in 1768)
• Kalverstraat, Amsterdam, designed by Dutch architect Hendrick Petrus Berlage
• Wool Exchange, Bradford
• High Street, Birmingham, formerly Times Furniture Company
• Dolphin & Anchor, West Street, Chichester,
• West End Princes Street, Edinburgh
• Corn Exchange, Lincoln,
• Emerson Chambers, Newcastle upon Tyne
• William Baker House, Cornmarket St, Oxford
• Fishergate, Preston, formerly Booths grocery and head office
• Broad Street, Reading, formerly Broad Street Independent Chapel
• The Tontines Building, Parliament Row, Stoke-on-Trent
• The Carlton Cinema, Swansea

File:Simpsons of Piccadilly 2005.jpg|London Piccadilly flagship branch

File:Waterstones, Kensington High Street, London W8 - geograph.org.uk - 667585.jpg|High Street Kensington branch, near the original Old Brompton Road branch

File:Wool Exchange (7366226550).jpg|The Wool Exchange in Bradford has been converted into a Waterstones.

File:Hodges Figgis.jpg|Hodges Figgis, Dublin

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{{cite web |title=Bookshops in the UK and Europe |publisher=Waterstones |url=https://www.waterstones.com/bookshops |access-date=29 December 2023}}

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