Tag: HMV

HMV profits and sales fall

HMV profits and sales fall

Music, books and games retailer HMV has today reported a pre-tax profit of A?28.9 million in the 12 months to the end of April a�� a fall of 61% compared with the A?74.2 million in the same period a year earlier. Furthermore, like-for-like sales have dived 11% over the past year as it struggles with […]

June 30, 2011 More
Struggling HMV secures future with refinancing agreement

Struggling HMV secures future with refinancing agreement

Shares in troubled music, books and games retailer HMV have risen today after it emerged that it has secured a new refinancing deal with its lenders. The deal, worth A?220 million, will see the taxpayer taking a stake in the company. The groupa��s main lenders are taxpayer-backed Royal Bank of Scotland and Lloyds Banking Group. […]

June 7, 2011 More
HMV to sell Waterstone’s for A?53m

HMV to sell Waterstone’s for A?53m

May 20, 2011 More
HMV Group issues further profits warning

HMV Group issues further profits warning

Music, books, DVD and games retailer, HMV, has issued its third profits warning in as many months. It expects full-year pre-tax profits to be around A?30 million – lower than the A?38 million it estimated a month ago. The 90-year old retailer, which also owns Waterstonea��s bookshops, in January said it was struggling to meet […]

April 5, 2011 More
HMV Group issues further profits warning

HMV Group issues further profits warning

Music, books, DVDs and games retailer, HMV, has watched its shares plummet 20% today after the firm issued another profits warning. It also revealed it would currently fail to meet the conditions of its loan agreements in April. The retailer, which also owns Waterstonea��s bookshops, in January said it was struggling to meet the terms […]

March 1, 2011 More
HMV shares down after credit insurance review

HMV shares down after credit insurance review

Music, books, DVDs and games retailer, HMV, has been dealt a further blow today after credit insurers have reduced the cover they are prepared to give to suppliers of the firm. The news sent its shares down more than 11% in early trading to 23.25p. In a statement today, HMV said: “Credit insurers are reviewing […]

January 19, 2011 More
More retailers hit by Decembera��s big freeze

More retailers hit by Decembera��s big freeze

The heavy snowfall which gripped most of the country last month has hit more retailers, figures showed today. December 2010 was the coldest nationally since records began in 1910. Yesterday, Next a�� Britaina��s second largest fashion retailer, said sales for the five months to Christmas Eve a�� at shops open at least a year a�� […]

January 6, 2011 More
HMV to close 60 stores over the next 12 months

HMV to close 60 stores over the next 12 months

Music, books, DVDs and games retailer, HMV, has today said it is planning to close 60 stores over the next year. The announcement came after it revealed sales were hit by the recent heavy snowfall. The chain also continues to struggle amid tough competition from supermarkets and internet companies, such as Amazon. Shares in the […]

January 5, 2011 More
Next and HMV sales hit by heavy snowfall

Next and HMV sales hit by heavy snowfall

The heavy snowfall which gripped most of the country last month resulted in a fall in sales at Next – Britaina��s second largest fashion retailer. The company today announced sales for the five months to Christmas Eve – at shops open at least a year – were down 6.1%. However, online sales were up 8.7% […]

More bumper Christmas sales figures from DSG & HRG but HMV disappoints

More bumper Christmas sales figures from DSG & HRG but HMV disappoints

DSG International, the electronics group that owns Dixons, Currys and PC World, has today joined other major retailers in reporting bumper Christmas sales. The group, which is Europe’s No. 2 electricals retailer, enjoyed a record-breaking Christmas, with like-for-like sales in the 12 weeks to 9 January up 8% compared with the same period a year […]

Borders UK placed into administration

Borders UK placed into administration

Bookshop chain Borders UK has been placed into administration, according to Reuters. The move is not unexpected after it was reported earlier this week that the 45-store book retailer does not have sufficient cash to see it through to Christmas as it has suffered amid increased competition from supermarkets and online retailers, such as Amazon. […]

WHSmith walks away from Borders deal

WHSmith walks away from Borders deal

WHSmith has abandoned talks with bookshop chain Borders, which is set to see Borders UK enter administration unless a sale is imminent. Borders is understood to not have sufficient cash to see it through to Christmas as it has suffered amid increased competition from supermarkets and online retailers, such as Amazon. As a result, the […]

HMV profits boosted by collapse of Woolworths and Zavvi

HMV profits boosted by collapse of Woolworths and Zavvi

HMV, the music and games retailer, has benefited from the demise of rivals and posted an 18% increase in full-year profits. The group said pre-tax profits for the 12 months to April 25 were 11.5% ahead at A?63 million. Furthermore, annual group-wide pre-tax profit totalled A?61.3 million, compared with the A?52 million reported a year […]