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

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

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.

Sometimes we include links to online retail stores. If you click on one and make a purchase we may receive a small commission. For more information, go here.

Comments

Headlines

Gamerbase

  • Namco Bandai holding Tekken Tag Tournament 2 UK tour

    Namco Bandai’s announced plans to showcase Tekken Tag Tournament 2 around the UK at Gamerbase ahead of its mid-September release.

  • HMV to open multiplayer gaming centres across UK

    HMV has acquired multiplayer gaming outfit Gamerbase, with plans to expand its in-store gaming concept across the UK. Gamerbase has been running as a concession in HMVs Trocadero store in London’s Piccadilly Circus since late last year. “Where we roll them out, we’ll be looking to locate the Gamerbase centres next to our games departments […]

Hmv

Re/play

  • HMV launches preowned games app for iOS, Android

    UK retailer HMV is offering a free app for your Android phone or iDevice, with a disarmingly charming set of features encouraging you to get in on some trade-in action.

  • HMV enters pre-owned market, Re/Play launches in UK and Ireland

    HMV has announced that as of Friday 24 October trade-in service, Re/Play is launching meaning you will be able to trade in your games for credit for anything the store has to offer, writes MCV. “Re/Play will launch in 160 stores across the UK and Ireland, including regional flagships in London’s Oxford Street, Birmingham, Manchester, […]