HMV: Christmas star
Music and books retailer HMV Group emerged as the High Street’s star as Christmas shoppers snapped up blockbuster titles and video games.
Devoting more space to video games paid off and HMV shop sales jumped 14.1 per cent, lifted by strong demand for Nintendo Wii and DS products.
There was a strong DVD schedule, including blockbuster films Simpsons The Movie and Transformers, and hit CDs from Amy Winehouse and Leona Lewis. Chief executive Simon Fox said the group enjoyed its “best ever” seasonal performance as underlying group sales for the five weeks to January 5 climbed 9.4 per cent.
Waterstone’s bookshops enjoyed sales growth of 4 per cent, helped by bestsellers from Russell Brand, Nigella Lawson and Jeremy Clarkson.
The performance followed the turnaround plan put in place by Fox last year and set the company on course to hit City profit forecasts of £53million. HMV shares rose 4p to 105p.