HMV sales continue to drop
HMV Group, which sells music, DVDs and books, said on Thursday its total like for like sales were down 3.7 percent, once the benefit of its recent acquisition of Ottakar's was taken out.
HMV said the firm continued to suffer from a fiercely competitive CD and DVD market as supermarkets and online retailers aggressively cut prices.
Sales at HMV UK & Ireland were down 1.2 percent in the 12 weeks ended September 23 and there was a 5.4 percent fall in like for like sales.
Sales at its Waterstone's book stores dropped 3.6 percent in the same period.
The markets in which the group operates, particularly music, continue to experience very difficult trading conditions. said Chairman Carl Symon ahead of the group's annual shareholders' meeting.
He added that the firm was on track with strategic changes it is making to its business, while the integration of Ottakar's was going to plan.
HMV is due to post a trading update on its half year results on January 11.
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