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HMV reports 11% sales slump Monday, 24th September 2012
Photo credit: My Retail Media
HMV has reported a like-for-like sales slump of 11.6 per cent for the 20 weeks to 15 September, a figure that was “broadly unchanged” on its previous trading update.
The beleaguered entertainment retailer, which currently operates 243 shops in the UK and Ireland, suffered a loss of £16.2 million for the year to April.
HMV predicted a profit of £10 million this financial year, but city analysts remain uncertain the business can achieve a turnaround.
Shares fell 0.27p, or 8.85 per cent, to 2.78p on Friday.