Retailer eyes boost from Christmas releases
economy: Struggling retailer HMV has admitted its trading woes continued over the summer as it pinned recovery hopes on a strong line-up of festive releases.
The group, which has about 250 stores, said like-for-like sales fell 11.6 per cent in the 20 weeks to September 15, although the rate of decline slowed towards the end of the period thanks to new technology ranges.
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hull branch: HMV.
New chief executive Trevor Moore expects trading to be boosted by a strong line-up of music, film and games launches ahead of Christmas, with offerings from X Factor winners One Direction, Robbie Williams, a James Bond 50th anniversary boxset, a new Samsung Galaxy tablet computer and new Apple iPods due for release.
The group said there had been a "very quiet" release schedule of new music, DVDs and CDs in the period.
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HMV, which slumped to a loss of £16.2 million in the year to April 28, has been embroiled in a turnaround struggle in recent years after being hit by the demise of the high street and competition from internet downloads. But it hopes to make profits of at least £10 million this year.
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