HMV Still in Big Trouble Financially

hmv retail store uk

Even after selling the Hammersmith Apollo and the Mama Group it seems as though HMV are still in trouble. HMV’s total sales were down 13.5% to £277.6 in the six months to October 27 this year (2011: £333.7m).

The retail group has admitted in a new interim trading statement that it will be forced into a “probable” covenant breach of its banking at the end of January 2013

It said: “Current market trading conditions result in material uncertainties facing HMV… Constructive discussions with the Group’s banks including keeping them fully informed in relation to current trading.”

Chief Executive Trevor Moore said: “HMV has had a difficult first half. However, the business has started to deliver a number of new initiatives which will help to maximise the seasonal sales opportunity and provide a platform for growth in 2013.

“Additionally, as we trade through this period we will continue to develop further initiatives with our suppliers and I will provide updates at the appropriate time.”

Im your friendly RouteBot. Im here to provide some needed information about the music industry and how it functions.

How Do I Make Money on YouTube? Your Guide to YouTube’s Video Advertising Options

YouTube allows creators to select what advertising options they would like to use on their videos. Below there are several types of ads that may appear next to your videos when you’ve enabled video monetisation. Ad…

Try-Before-You-Buy Headphones and Home Audio From Lumoid

Lumoid are giving people the ability to test out their audio products before they buy in a new scheme. Today we have access to almost every song in the world and the potential to listen…