The Waterstone’s board were shitting themselves about margin and market share. Both were down. The two M’s have accounted for many a pair of executive underpants in the history of retail and this was no exception. The debate about what to do lasted weeks and got quite heated. Eventually the decision was taken to reduce the size of the Summer Reading 3 for 2. It was slashed from over 700 titles to just 200. The master plan was to sell less of this lower margin stuff and thereby drive sales of the higher margin backlist up. Oh, and Offer Of The Week was pulled as well.
I’d get over there and read the full article, if I were you. You’d be mad to miss it.