Takeover talks continue
Trading conditions remained tough for bookseller Ottakar's in the 16 weeks to May 20. Sales fell 4 per cent compared with the same period last year. Like-for-like sales slumped 8 per cent on the same basis.

Chairman Philip Dunne said negotiations about a possible sale to HMV continue. He said: 'We are still in discussions with HMV following their approach. The board are keen to finalise any discussions as quickly as possible.'

On trading he added: 'This position is largely unchanged from the -8.1 per cent like-for-like performance for the eight weeks to March 25 this year, but recent figures suggest that the slow start to the year may be improving.'

This year, stores will open in Doncaster, Knutsford, Romsey and Plymouth, with all but Doncaster opening in the second half, although in time for the key Christmas trading period.

Dunne said that a fully branch-integrated transactional web site is on target to launch this autumn. 'We are on course to meet market expectations in this financial year,' he added.

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