Potter fails to reassure Bloomsbury

The group described the UK consumer economy as the toughest it has been for decades and said the uncertainty over the future ownership of Waterstone’s had led the retail chain to ration orders in recent months. It has been helped by growing e-book sales but it warned that trade revenues were still soft. Borders in the United States has gone bankrupt.

The company added: “Difficult prevailing conditions mean we remain cautious about current trading.”

Bloomsbury pointed out that the website launch by JK Rowling of Pottermore.com contributed to a pick up in demand for the Harry Potter books just before the release of the film Harry Potter and The Deathly Hallows Part 2, whose stars include Daniel Radcliffe, Emma Watson and Rupert Grint.