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Balancing the books: how Waterstones came back from the dead

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The chain of booksellers has announced its first profit in years – thanks in part to a bold decision to run each branch like a local bookshop

Late on Thursday afternoon, would-be wizards across the UK dropped what they were doing to join the professors of Hogwarts for Harry Potter night. At 6pm in the basement of Waterstones’ six-storey London Piccadilly building, staff were scurrying around with bowls of jellybeans and bottles of raspberry lemonade, but the Harrys and Hermiones were nowhere to be seen.

A couple of elderly customers looked faintly disgruntled to find their favourite section shut for a private party. Two young sisters, Alex, 11, and eight-year-old Polly, fidgeted by the closed door clutching a box of quidditch balls, while Yang, a 22-year-old physics student from Korea, appeared baffled.

Related: A Twitter love story: the woman who wed @WstonesOxfordSt

Related: Waterstones children’s book prize 2016 shortlists - in pictures

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