When Supermarkets Go to War

I am not exactly sure of the precise lessons to be learned for Canadian booksellers from tales of woe coming out of the U.K., but I have been following the crying game for a while in the U.K. trade magazine The Bookseller. The gist of the story is that supermarket giants Tesco and Wal-Mart’s Asda are causing havoc for other big chains. Here is the latest installment in the story from HMV who owns Waterstones.

Music and books retailer HMV said on Thursday its annual profit more than halved to £48.1 million ($96.28 million) as it battled cut-price supermarket and online sales….

Read the full story.