Deathwatch: More doom and gloom at HMV
Things aren’t getting much better over at beleaguered retailer music-and-stuff HMV and they’ve just announced another drop in sales – a 15.1% decline in like-for-like takings in the 18 weeks up to September 3rd.
But there’s better news as their six ‘Fast Forward’ stores (where a quarter of floorspace is devoted to gizmos and gadgets) have notched a doubling in like-for-like sales in the same period. Appropriately, and in no way desperately, the company will be rolling out the same floorspace changes in the majority of their 150 stores as soon as possible.
But is it going to be enough to save the company? Major electronics retailers like Comet and Dixons Retail have struggled recently and Argos this week announced a fairly significant drop in sales of gizmos and gadgets. Also, HMV have closed 29 stores in the quoted 18-week period, with a total of 60 store closures planned long term.
You lot reckon you’re ‘consumers’ – so do you think that HMV will be able to revive itself by flogging more iPods?