Not even Harry Potter and Jamie Oliver could stop pre-Christmas sales going into reverse at bookshop chain Ottakar's.
The company, at the centre of a stalled takeover bid by HMV, said in a trading statement yesterday that like-for-like sales fell by 6.7 per cent in the 19 weeks to December 10 and were down by 3.4 per cent over a 45-week period.
Sales were down despite the release of the latest Harry Potter novel and TV chef Jamie Oliver's new cookbook.
Ottakar's said the two weeks up to Christmas would be crucial, though it refused to engage in the price-war being waged by rival booksellers.
Earlier this month a #94.6 million takeover bid by HMV, owner of rival book chain Waterstone's, was referred to the Competition Commission.
Ottakar's, which is well represented in the West Midlands, said it had run up #2 million in costs dealing with the offer from HMV and an earlier attempted management buyout.
In the second half of the year total sales fell by 2.3 per cent - despite the opening of new branches in the south of England. Bridport in Dorset, Chesham in Buckingham-shire, Godalming in Surrey and Wimbledon, south London. Overall this year, total sales, including contributions from new shops, have risen by 1.5 per cent.
As Christmas trading builds up, the company listed its top three sellers as: Does Anything Eat Wasps? and 101 Other Questions by The New Scientist; Jamie's Italy by Jamie Oliver, and Untold Stories by Alan Bennett.
Half-year sales were also helped by JK Rowling's Harry Potter and The Half Blood Prince, released in July.
The company, which has about 140 stores, said pressure on sales and profit meant it would have to cut costs. ..SUPL:
