HMV has the X Factor
Strong Christmas performance helped by reality TV music sales.
HMV has said it enjoyed a “highly successful” Christmas trading period. HMV said like-for-like sales rose 9.4% in the five weeks to 5 January across the group.
Like-for-like sales at its HMV stores in the UK and Ireland rose 14.1%, while sales at its Waterstone’s bookstore chain rose 4%. Commenting, Chief Executive Simon Fox said ‘Less than a year into our transformation programme the initiatives we are undertaking to revitalise our business have helped to deliver a highly successful Christmas. Having stabilised the business, we will continue to focus on revitalising our store propositions as well as growing new channels to market and carefully managing margins and costs. The Group is, therefore, well positioned for the next phase of its turnaround.’
