HMV Group sales robust

Ahead of its AGM today, the entertainment retailer reported that, in the 18 weeks to August 30, group like-for-like sales rose 1.3 per cent. Excluding the impact last year of the launch of Harry Potter and the Deathly Hallows, like-for-likes were up 2.2 per cent. Total sales during the period were up 3.5 per cent.

Like-for-like sales in the UK and Ireland at HMV were up 4.3 per cent, driven by the increased mix of games and technology and market share gains in all categories. Total sales were up 8.6 per cent.

The international division, which includes HMV stores in Canada, Hong Kong and Singapore, notched up a 2.9 per cent like-for-like rise, with total sales up 6.3 per cent. As a result, HMV as a whole recorded a 4.1 per cent like-for-like hike and total sales grew by 8.1 per cent.

Waterstone’s, however, recorded a 4.3 per cent fall in like-for-like sales. Excluding the impact of The Deathly Hallows, like-for-like sales were down 1.7 per cent. Total sales slumped 5.9 per cent.

At the AGM, HMV Group chief executive Simon Fox will say that he remains confident that the retailer’s strategic initiatives are on track despite the “tough” consumer environment.

“As we approach the peak selling period, our focus is on continuing to provide our customers with the very best offers, from what is shaping up to be a strong line-up across all product categories for Christmas,” he said.

Yesterday, HMV opened its largest Next Generation store in Liverpool One at 15,000sq ft. Waterstone’s also launched the Sony e-book reader in an exclusive partnership with Sony.

Hmv.com will launch an MP3 digital download and streaming offer this month and HMV UK will launch a pilot loyalty card before the end of the year.