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It's not surprising. People who go to Waterstones go to buy a physical book, not buy an ereader. I'm constantly surprised that so few people even glance at the Kindle displays in Waterstones. It's not like they're even hidden away either, and people hardly show any interest. The fact that so many Waterstones have been refurbished has also helped their core product, physical books, as the more pleasant environment entices people into the shop, and lets them browse in comfortable surroundings. The selection of titles in even the smaller shops if pretty comprehensive, unlike what I have been hearing of Barnes and Noble in recent years. All in all, along with the other retailing improvements, is it any surprise that physical books have been doing better while the kindles are ignored? The answer is no. The fact that Daunt has turned an ailing chain around and is set to lead it into the black for the first time in years shows that when smart business sense is applied, even something as apparently as dead as a brick and mortar bookshop actually has more life in it that most people thought.
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