Foyles to open new bookshop as loyal readers boost profits

A new branch of Foyles could open in the capital next year as the 107-year-old book chain celebrates record sales figures.

The company has opened shops at St Pancras station and Westfield shopping centre in Shepherd's Bush in the past two years and is looking for a new site.

Chief executive Sam Husain said he believes Islington would be a "good fit" for Foyles.

"Naturally we are cautious against over-stretch. But in certain parts of London and other cities we believe readers are not being catered for," he said.

After years of losses and the collapse of rival chain Borders, Mr Husain revealed that Foyles is on course for a £250,000 pre-tax operating profit when figures are released next month — defying bleak predictions for traditional booksellers.

Mr Husain, who has focused on expanding the range of books, said: "Customers aren't just drawn by price alone."

Foyles was founded in 1903 and moved to its main store in Charing Cross Road three years later.