Waterstone's to put Paperchase concessions in stores

The retailer, owned by HMV, has struck the deal to help beef up its own stationery offer which has done well in stores, according to the Financial Times.  

Paperchase previously had concessions in Borders which closed down at the end of last year.

Waterstone’s managing director Dominic Myers said: “We have a number of stores that are closely located to where the original Borders were. To partner with Paperchase – who are a good, strong brand with a good offering, well known in those locations – gives us some more immediate scale in our ambitions.”

The concessions will start in larger stores and could be rolled out further if successful.

The book chain is also looking at putting some larger cafés into stores and expanding its electronic book offer.

In its last update HMV Group disappointed the City with like-for-like sales tumbling 13.2%.

However for the 16 weeks to April 24, Waterstone’s reported improving total sales of -4.3% with like-for-like sales down 4.8%.