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Retail

Sales at HMV slump 15%

Sales at HMV slump 15%

Fri 21 Sep 2012 7:18am GMT / 3:18am EDT / 12:18am PDT
RetailPublishing

Games and other entertainment markets perform poorly for retailer

Sales at entertainment retailer HMV were down again for the 20 weeks ended September 15, with stores hit by declines in the games, music and film markets.

Total group sales were down 14.8 per cent, like-for-likes down 11.6 per cent, in a period during which HMV closed a number of outlets.

While new releases in entertainment were thin on the ground, HMV did note a growth in portable digital technology, driven in part by refits and new services in-store.

"These numbers reflect the challenging markets in which we operate," commented Trevor Moore, CEO.

"However, the like for like decline was less marked towards the end of the period and we should be helped in the remainder of the year by a strong pipeline of new releases in the music, DVD and games markets ahead of Christmas."

4 Comments

Morville O'Driscoll Blogger & Critic

1,630 1,509 0.9
"The unemployment rate for May to July 2012 was 8.1 per cent of the economically active population" ( http://www.ons.gov.uk/ons/rel/lms/labour-market-statistics/september-2012/index.html )

Factor in Summer holidays/the fact that it's not the Festive gifting period, and there is absolutely no surprise in these figures.

Posted:2 years ago

#1

Dave Herod Senior Programmer, Codemasters

528 788 1.5
Summer holidays are irrelevant, they happen every year. Assuming, that is the 15% drop is over the same period last year? The article's not very clear. Sales are down compared to what?

Posted:2 years ago

#2

Tameem Antoniades Creative Director & Co-founder, Ninja Theory Ltd

196 164 0.8
Don't forget all the other factors: olympics, queens jubliee, hot summer makes people stay in, wet summer makes people stay away, coronation street special, ironic blog posts etc etc

Posted:2 years ago

#3

Paul Murphy Editor-in-Chief, The Vita Lounge

8 4 0.5
Usually, these figures are comparable year on year. But we have had a differing summer, all of retail, not just gaming sector has reported a poor summer.

Posted:2 years ago

#4

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