Waterstone's three-for-two deals axed

Three-for-two book deals at Waterstone's have been scrapped after the chain's new chief said the offer did not make commercial sense.

James Daunt, 47, the new managing director and former founder of independent bookseller Daunt Books, said the offer will cease from the end of next month. It is likely to be replaced by discounts on individual titles.

Agents and publishers welcomed the move. Jonny Geller, literary agent at Curtis Brown, pointed out that bulk-buying increases the length of time before shoppers return.

Publishing sources said future pricing options included £5 deals, or £3, £5 and £7 offers for paperbacks.