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Retail

HMV CEO Simon Fox leaves after six years

HMV CEO Simon Fox leaves after six years

Thu 02 Aug 2012 9:57am GMT / 5:57am EDT / 2:57am PDT
Retail

Entertainment retailer hires former Jessops chief exec

Simon Fox, CEO of entertainment retailer HMV, has stepped down from the position after six years in the role.

Fox will be replaced by former Jessops chief executive Trevor Moore, who has also worked at HSBC and Whitbread.

"On behalf of the board, I want to thank Simon for his contribution to HMV. He has led the company through a turbulent period for the entertainment retailing industry and has played an invaluable part in securing HMV's future, not least by strengthening relations with suppliers and successfully refinancing HMV's bank borrowings," offered Philip Rowley, chairman of the retailer.

5 Comments

Bruce Everiss
Marketing Consultant

1,692 594 0.4
To be commercially successful selling digital IP out of bricks and mortar retail is history. The costs incurred in doing so are just so vast. The world has changed and seeing this sort of retailer on the high street is like finding a dinosaur footprint. Interesting, but of little real relevance.

Posted:2 years ago

#1

Terence Gage
Freelance writer

1,288 120 0.1
You're largely correct Bruce, but that rule does not apply to all. Are Gamestop not still making profit year-on-year despite ups and downs in the industry?

Posted:2 years ago

#2

Morville O'Driscoll
Blogger & Critic

1,536 1,339 0.9
Ive been disappointed by HMV. With Game going bust, there's only two places selling new video-games in Sheffield - an independent shop, and HMV. HMV could really have gone to town, broadening their selection of games, especially PC games, which the indie has mostly stopped selling. But what have they done? Nothing. I wouldn't be surprised to walk in there in 6 months time to find them just selling hardware.

Posted:2 years ago

#3

Bruce Everiss
Marketing Consultant

1,692 594 0.4
@Terence Gage

Gamestop are largely a secondhand shop, so their competitor is eBay.
They have a very sophisticated secondhand business model that encompasses mobile phones, gaming hardware, software and anything else that is a fit for their customer base. http://www.gamestop.com/collection/trade-in
This trade in is vastly more convenient for a customer than using eBay. They can walk in with their old PSP and a few games and walk out with a Nexus 7. This is a very compelling offering. And it is something that Game in the UK failed to emulate sufficiently.

With bricks and mortar there is the need to provide customers with a reason to be there, Gamestop have succeeded in coming up with a business plan that does this.

Posted:2 years ago

#4

Morville O'Driscoll
Blogger & Critic

1,536 1,339 0.9
@ Bruce

Indeed. It's why I didn't mention the CEX opposite HMV in Sheffield. Different business plans, different customers.

Posted:2 years ago

#5

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