HMV has another bleak Christmas

UK high street retailer has announced a like for like drop in sales of 8.1% in the five weeks running up to December 31st 2011. However the new move into technology and gadgets seems positive, with 500,000 headphones and 20,000 tablet computers sold.

MAMA up for sale?

It seems that beleaguered UK retailer HMV has put its live music division, in reality the MAMA Group, up for sale. It is thought AEG are amongst those interested, and that long term CEO Dean James may also consider fronting a bid.

HMV calls in suppliers for emergency talks

The Observer reports that HMV, the UK high street retailer and now live music group has called in suppliers tomorrow (December 19th) for an emergency meeting and is expected to announce first half losses of £38 million. Despite selling the Waterstones book retailer chain for £53 million, the Simon Fox led group is now apparently valued at just £16 million - although Christmas would usually be its busiest time. HMV brought the MAMA Group for £46 million in 2009.

Music sales down at HMV and Tesco

HMV has announced like for like sales dropped 15.1% in the 18 weeks to the 3rd September whilst the UK's major retailer, Tesco, announced a 0.5% drop in sales said that music CDs and DVDs had been hard hit. Teco blamed the high cost of fuel and the economic downturn as major factors in the drop in sales. HMV has said it will continue to focus on 'high growth' markets such as the live music side of the business.