HMV like-for-like sales rise

Archived article dated Friday September 5th 2008

Plans are in line with the Board's expectations

Excluding Harry Potter and the Deathly Hallows release , like-for-like sales rose 1.3 per cent while total sales in HMV increased 3.5 per cent.

Like for like sales growth of 4.3 per cent in HMV UK & Ireland aided by the increase of the mix of games and technology. Total sales increased 8.6%.

Waterstone's like for like sales were down 4.3 per cent and excluding Harry Potter, down 1.7 per cent, reflecting a weaker book market. Total sales were down 5.9 per cent.

Simon Fox, HMV Group plc Chief Executive, said: 'In what is, undoubtedly, a tough consumer environment, the solid start made by the Group to the new financial year means that our plans are in line with the Board's expectations, and I remain confident that our strategic initiatives are on track.

'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.'

Tagged as: hmv | waterstones

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