Sections

HMV reports sales of £1.95 billion for end of fiscal year

Tuesday, 30th June 2009 15:22 GMT By Stephany Nunneley

hmv

HMV has reported sales of £1.95 billion for fiscal year ending April 25, with profits up £63 million.

Escalating profits were attributed to its Re/Play branding, and Gamerbase concessions in the Trocadero, with more pay-to-play locations planned for the next fiscal cycle.

“At the end of the second year of our three-year transformation plan the Group has delivered further profit growth, despite the challenging retail environment. We are continuing to adapt to meet the changes in our markets and, whilst there is still much to do, our plans for the third year of our program are on track,” said HMV chief executive Simon Fox.

“We are also looking at further growth opportunities available to us, and are very pleased with the recently announced joint venture in live music and partnerships for film and mobile. I am confident that we have the right strategy in place to continue to build a strong and vibrant business for the future.”

Growth in games and tech in the UK and Ireland garnered 24 percent of sales, with the same category netting 12 percent of sales for HMV,  which also stocks DS titles and hardware in its  Waterstone’s chain.

More through GI.biz.

Latest

7 Comments

  1. Lutz

    How MUCH?! That seems… *very* high, even for gross profits.

    #1 6 years ago
  2. Ghost_Dog

    That does seem very high, is is correct?

    Also, their Re/Play games are a complete rip-off. I’ve seen games which are more expensive pre-owned then when I originally bought it new from the same store.

    #2 6 years ago
  3. Patrick Garratt

    Mistake, yeah. Steph’s fixing it now :)

    #3 6 years ago
  4. Stephany Nunneley

    Yeah, sorry. Fixed. Math + Not enough coffee = Dumb Blond syndrome. ;-)

    #4 6 years ago
  5. Lutz

    Phew! Panic over.

    HMV’s planned take over of the world is denied.

    #5 6 years ago
  6. Ghost_Dog

    That’s still no bad considering that we are in a recension and HMV posted losses not long ago.

    #6 6 years ago
  7. reask

    They have some really good deals going at the moment in Ireland.
    I picked up the orange box new for 26 Euro at the weekend.
    I could have got another game with it for 40 Euro total.

    #7 6 years ago

Comments are now closed on this article.