Deathwatch: Christmas sales drop for troubled HMV
HMV is still here but things aren’t getting much better for the beleaguered ‘entertainment retail’ group. The Christmas period has seen another steep drop in sales, with a like-for-like drop in December of 8.1%.
But they’re looking on the bright side and claim that their shift in focus to the sale of portable digital products is starting to work, with like-for-likes in their 144 refitted gadget-heavy stores up by 51%. Which sounds great, but depends on how many iPod docks and earphones they were stocking originally.
Fans of doom and gloom will be heartened by the news that HMV have also confirmed again that they will struggle to continue to trade in their current form, with the sale of their live music business still high up on the agenda, with the whole thing stinking of a bit of a fire sale.
We’ll be honest – while the name will probably still be around for Christmas 2012 we’ll be surprised if HMV looks anything like it does now by then.