HMV’s like-for-likes have surged since its collapse, rocketing 45% in recent days as shoppers took advantage of discounts and also showed support for the beleaguered entertainment retailer.
In the four days to January 23, HMV like-for-likes soared 45% year on year, while footfall jumped 77% as shoppers took advantage of its blue cross Sale and administrator Deloitte’s decision on Tuesday to accept gift vouchers again, Retail Week can reveal.
The figures come as Retail-Week.com revealed on Thursday that both shopper numbers and sales were “well ahead of target”. Sources said the growth was partly driven by a desire to help the retailer survive.
In the week to January 19, like-for-likes increased 37% while footfall accelerated 41%. HMV collapsed on January 15.
Nick Edwards, joint administrator at Deloitte, said: “These figures demonstrate the fantastic response we have had from customers. The blue cross Sale is undoubtedly an attraction but, more than that, these figures are evidence of the demand from consumers to see HMV remain on the high street for the long-term.”
One source close to HMV told Retail Week on Wednesday: “The stores are really busy and have got a pre-Christmas feel to them. It’s down to a number of factors – the public showing support for HMV but also people wanting to get great bargains.”
Yet HMV’s future still hangs in the balance. Restructuring firm Hilco acquired HMV’s lenders’ debt on Tuesday, and is still weighing up it its options. The retailer remains in administration.
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