Cost of last week’s purchase of 14 outlets was £700k, CEO reveals; Says HMV wants “less than a handful” more stores
HMV is in negotiations to purchase more Zavvi stores from administrator Ernst & Young.
HMV Group CEO Simon Fox has revealed that the company is in talks to purchase “less than a handful” more Zavvi outlets.
The entertainment retailer bought 14 Zavvi outlets last week – which cost it £700,000 ($966,280), Fox revealed. The stores are in districts without HMV outlets, he said.
According to Bloomberg, HMV plans to build on market share gains resulting from the collapse of competitor Woolworths Plc, Fox said.
The retailer is updating its stores with download centres and staging live music performances at some outlets to make them places where young people “can hang out and meet,” he said.
Advertisement
MCV speaks to Simon Fox exclusively about HMV’s record Christmas and plans for 2009 in tomorrow's magazine.
Comments
Leave a Comment
HOT TOPICS
Religious leaders slam Modern Warfare 2 130
Microsoft hails its ‘killer weapon’ in battle with PS3 and Wii 77
Russia pulls Modern Warfare 2 from sale? 16
The Hut rebuffs AC2 date break claims 14
The Producers pulls out of Trilogy partnership 13
MW2 sales pass $550m worldwide 13
Xbox Live class action begins 12
60% of UK 360s have failed 12
Facebook hitting PS3 today 8
Call of Duty inspires new retailers 7
RELATED STORIES
HMV snaps up 14 Zavvi stores 4
Zavvi redundancies top 1,000 2
OFT investigate HMV purchase of Zavvi stores 2
Zavvi ceases trading on High Street
Summer sales madness grips UK 5
HMV joins the British Retail Consortium 1
Trade rocked by HMV assault on pre-owned 36
HMV enjoys ‘best ever Christmas’ 1
HMV saves 269 jobs at Zavvi 1
‘Exciting’ Zavvi news on the way 3
ABOUT US
MCV is the leading trade news and community site for all professionals working within the UK and international video games market. It reaches everyone from store manager to CEO, covering the entire industry. MCV is published by Intent Media, which specialises in entertainment, leisure and technology markets