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Retail

Weak games market hits HMV

Thu 09 Sep 2010 8:19am GMT / 4:19am EDT / 1:19am PDT
BusinessRetail

Sales down 15 per cent over summer, but Fox looks to strong Xmas period

Entertainment retailer HMV has blamed a weak games market in part for a decline in sales for the period ended September 4.

Sales were down in the UK and Ireland by 14.9 per cent on a like-for-like basis, but chief exec Simon Fox singled out a strong product line-up of games as a positive for the coming Christmas period.

"As was highlighted with the group's preliminary results on 30 June 2010, trading during the first quarter of the new financial year has been difficult, particularly in HMV UK & Ireland, where the World Cup disrupted the pipeline for new entertainment product, and the games market continued to be weak," said Fox.

"In line with our new strategic plan, over the summer we progressed the changes to our stores that will enable us to drive our new fashion and enhanced technology offers. These initiatives, combined with a stronger product line-up, particularly in games, are key to the delivery of a successful Christmas," he said.

The company added its market share of the games sector was "satisfactory."

HMV also announced that 14-year veteran Neil Bright, group finance director, will leave the business in December.

2 Comments

Kevin Clark-Patterson
Lecturer in Games Development

288 23 0.1
To be fair...nothing particularly good has been released over summer (as per usual) and there wasn't a whole lot of good stuff released in Q2

Edited 1 times. Last edit by Kevin Clark-Patterson on 9th September 2010 9:34am

Posted:3 years ago

#1

Terence Gage
Freelance writer

1,288 120 0.1
I'm not sure I'd agree with you Kevin; there has been a slow but steady stream of big releases over the year so far, and don't forget in May/June there was a ton of good releases like Split/Second, Blur, Alan Wake, RDR, Demon's Souls, etc.

As ever though, the releases seem to come in waves, with release schedules at the start of the year crowded, the middle of the year proving very busy (where most games lost out as RDR cleaned up) and the pre-Christmas line up again looking very busy. Worse still, Q1 next year is looking particularly expensive; especially if you like FPSs.

Publishers are slowly learning that games don't need to launch pre-Christmas to be a hit, but so far all this seems to have amounted to is releasing their games in a busy time when every other publisher is releasing their games too!

Posted:3 years ago

#2

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