Tag Archives: hmv group

ANALYSIS: What’s next for HMV?

HMV’s financial update this morning did not make for pleasant reading. And the business media – unsurprisingly – has been sticking the knife in. To them – and indeed many analysts and experts – HMV is on the way out. The retailer is just a few short months away from …

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HMV unveils vision of retail’s future

Those who enthusiastically condemned the High Street to history at London Games Conference were wide of the mark: Because entertainment retailers aren’t actually reliant on boxed product to survive. That was the view from HMV this week, as the retail firm unveiled a revolutionary strategy to ensure it is still …

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HMV opens 12 temporary Xmas outlets

HMV will open 12 new temporary stores across the UK this month – with games playing a ‘key role’ in their layout. The multiple entertainment retailer is anticipating increased demand over the Christmas period – particularly from releases including Activision’s Modern Warfare 2, Ubisoft’s Assassin’s Creed II and EA’s FIFA …

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HMV reveals sales rise

The HMV Group’s UK and Ireland division has posted 12.5 per cent total sales growth for the 18 weeks to August 29th – with like-for-like sales up 1.7 per cent. The retailer’s total sales included the contribution from 29 former Zavvi stores. However, the retailer’s Waterstone’s books chain suffered a …

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Zavvi ceases trading on High Street

Zavvi will disappear from the UK High Street this week, according to administrators. Ernst & Young has revealed that all remaining Zavvi stores will close on February 20th, with the loss of 446 jobs. However, five stores have been sold to Head Entertainment LLP – the new venture from Zavvi …

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OFT investigate HMV purchase of Zavvi stores

The Office of Fair Trading is investigating HMV’s acquisition of nine Zavvi stores. The body said in a statement that it was ‘considering whether arrangements are in progress or in contemplation which, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions …

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Zavvi redundancies top 1,000

The administrator of Zavvi today announced the immediate closure of a further 17 UK stores, with 242 employees made redundant. MCV understands that brings the total number of people laid off since the firm went into administration to 1,137. Administrator Ernst & Young said it ‘continues to work closely with …

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HMV keen on more Zavvi 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 …

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HMV snaps up 14 Zavvi stores

HMV has acquired 14 Zavvi stores from its rival’s administrators, Ernst & Young. HMV expects the cost of its acquisition to be around 2m, including a purchase price of 700,000 plus the refit and rebranding of the outlets. The locations of the stores are currently unclear, but they are in …

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HMV enjoys best ever Christmas

HMV has defied the odds on the High Street to pull off its biggest ever Christmas – enjoying a 5.8 per cent sales growth for the ten weeks to January 3rd. Like-for-like growth was up three per cent on the same period in 2008. The total HMV Group – which …

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