Daunt said despite earlier predictions, the general election and bad weather, the book specialist’s Christmas sales were flat in December compared with the previous year.

“I would have said it would have been down on last year,” Daunt said. “Christmas came later this year and every time it falls on a Wednesday you have to whack everything into the last four days.

“It was fine in the end, but I found it rather nerve-wracking,” he added.

He said Waterstones had to work harder this Christmas as there was not a blockbuster book to be sold during the crucial Christmas trading period.