'Inexpensive, enduring and relevant'

'In such times it is much better to be selling books than higher ticket items. In the frequent periods of recession through until 1992, our industry was relatively immune from the worst effects. Results were disappointing but certainly not disastrous. As domestic budgets are squeezed, books benefit from being an inexpensive form of recreation and indeed a necessity for priorities like education. Above all, families will do all they can to still have a great Christmas. Our opportunity is to reinforce the strengths of the book as a gift: inexpensive, enduring and, if well-chosen, relevant to the needs of the recipient.'

Alan Giles, former CEO of HMV, in the Bookseller