DEATHWATCH - HMV sales continue to slide
HMV has been in trouble for a long time. Supermarkets have been undercutting them on music sales for years, online downloads have seen physical sales become less and less attractive. All we care about now are picking through the neverending DVD sales - and they'll likely go the same way as CDs.
And after a year of turmoil for HMV, the bad news keeps on coming - sale have slumped 14.5% in results for the year to April. Furthermore, the company barely stayed out the red - HMV made a profit before tax of just £200,000.
The grim trading conditions come ahead of a relaunch later in the year, when the company will focus more on consumer technology and electronics. The changes will be accompanied by refits in 150 stores across the country in time for Christmas. The question is whether HMV continue trading in 2012.