Waterstones and Borders ...
Personally, I think they have "sold out".
Waterstones were a breath of fresh air a few years ago. Knowledgeable staff, curious titles, interesting recommendations, etc.
Now, Watersones have become like a giant W H Smiths ... and no, that is NOT meant as a compliment!
But, to some extent, that has been forced upon them. Traditionally, bookshops would "tick over", and then make their serious money when a "big" title came out ... like a new Harry Potter. But now, supermarkets sell each new Harry Potter at a loss, just to get people into their stores. They can take a loss of £5 on every copy, because the same customer wanders into the store and spends £50.
Bookshops can't do that. So they have to resort to selling "popular" titles at discount prices. Waterstones will now even sell you a Kindle ... talk about cutting their own throats!
So I try to support "real" bookshops ... like Daunt Books in Marylebone, or City Books here in town.
Sooner or later, Amazon will kill them off, though.