HMV shares fall sharply as losses widen

 

 

Shares in HMV Group have slumped almost 17% after it reported falling sales and deepening losses.

 

The music, video, games and book retailer made a pre-tax loss of £41.3m in the six months to 23 October, compared with a £24.9m loss last year.

 

Like-for-like sales - which pulls out the impact of new store openings - at its main HMV UK business fell 16.1%.

 

Sales at its book chain Waterstone's were down 3.2%. HMV Group said Christmas sales would now be key.

 

At one point during the day its shares were down by as much as 29%. They later ended at 36.5 pence - the lowest closing price since the company's flotation in 2002.

 

Source: http://www.bbc.co.uk/news/business-11956003

No way! I'd actually be gutted if it had to follow Zavvi/Virgin... :(

I'm sure it will be fine..

They should just lower their prices for dvds etc.

Buzzjack does business news too?

 

Online is the way forward, their stores cant compete with Amazon/Play.com.

The thing is, I tend to buy my music and DVDs from Play and CDwow as they are much cheaper. The only thing I miss it for is buying 7inch & 12 inch vinyls thru the HMV online site.

It's not surprising considering their prices!

No way! I'd actually be gutted if it had to follow Zavvi/Virgin... :(

They'll survive, they'll just have to close some of their stores.

 

 

HMV at times can be ridiculously expensive. I get all my stuff from Amazon nowadays..

NOOOOO! I can't live without HMV! They've already taken one away from Nottingham (but tbf, there were 3 of them at the time! LOL) so as long as they keep one store, I'll be happy! Otherwise I may actually have no purpose to go shopping in the town centre any more! :( I prefer to order my stuff from HMV online sometimes as it's usually £3-£4 cheaper. (Plus free delivery! :cheer:) But it's 99% of the time I get my stuff from HMV. (I have a pure card too :wub:) Although I gave my sister a link to get my christmas prezzy from play as I found it to be £5 cheaper, than the HMV online store! But I, personally will stay loyal to HMV.

I hoped this day would never come, but it looks like HMV is reaching the end of the road (at least in its physical format anyway). Oh well, at least I can be content in the knowledge that three independent record stores have opened in Belfast in the space of a year.

Where i live there is no hmv near but when i go to galway or dublin i always pop in to the shops or likewise when im in the UK, I do find it quite expensive and likewise i find the onine hmv expensive at times aswell. I buy all my cd;s and dvds from either play or cd wow. The only thing i usually buy of hmv is cd singles but the fact delivery is not free to ireland a cd single in total costs me almost €7 which os expensive.

It can be a rip off, Sugababes Sweet 7 is currently priced at £16 at my local one :mellow:

they should lower the prices and make it cheaper than online stores...

plus people should move their a$$es and leave their PC's alone and GET A LIFE while doing some real shopping :w00t: down the street!!! :lol:

If HMV goes, it's the beginning of the end for physical media. I know that some people really don't care, but I would miss CDs and vinyl BAD :snif:

plus the report says: "HMV Group's revenues for the six months totalled £749.5m, down 6% from a year ago"

6% is not a huge deal...

so i think they r exagerating a bit...

I would hate to see the phyisical go and i would hate to see the day when not one phyisical shop for music exists but its looking likely it will happen and any phyisicla cd will only be able to be bought online or if lucky in Tesco.

What other stores do you guys have here in the UK?

I've been here for one and a half months now and HMV became a huge part of my London life.

I always go on a bargain hunt of the Oxford Street or Trocadero stores, haha.

 

It's the whole vibe of being in a store full of CDs I like, so on-line is really not the way to go for me.

Plus, I don't think it's expensive. CDs come out on sale at around £9-£10, back in Portugal they come out at €16.

There's a few "raraties" that are shockingly expensive at HMV but I think that's because they have very few, sometimes only that one, in stock.

 

HMV Trocadero had Girls Aloud's The Sound of... market at £10, I bought it at £3 at Oxford Street.

 

I just love HMV.

That's a shame.

Poor HMV.

Though, I'm sure they'll be fine.

Edited December 14, 201014 yr by Ceejay.

And I care that HMV may be shutting down? No

 

I remember recently going there to buy a trance compilation. It was £18 there so I bought it on iTunes instead which was £10. I'm sure amazon was £8.

Well at the minute I think the only growth area is blu-ray, and with the PS3 expected to be the top selling console this will only help blu-rays increase even more, and since the disks are still relatively expensive it would give hmv higher revenues/profits if they focused on these more instead of cds/dvds which are still falling.