HMV endures torrid Christmas
HMV endures torrid ChristmasHigh Street entertainment specialist HMV has endured a torrid Christmas, seeing sales down by more than 8% over the festive period.
The retailer, which boasts a UK presence of around 252 stores, reported a drop in like for like sales of 8.1% in the five weeks to December 31.
Insisting that his firm still had a future HMV chief executive Simon Fox said: “Undoubtedly trading conditions and the consumer environment remain challenging, but we remain confident in HMV's future prospects.”
HMV is adopting a more gadget focussed strategy to help it evolve its offering, refitting 144 stores with a range of portable digital products.
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Its a great retail brand, that evokes memories of 12 inch records and singles charts, but how relevant for todays retail environment? They look like they are on the right track just need to do it quicker and make a faster integration with online and mobile, to engage with youth once again. Social media also seems to be lost opportunity also.
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