informa
News

UK Retailer HMV Sees 22% Drop In Q1 Retail Sales

UK retailer HMV has posted financial results for its first quarter of the current fiscal year, noting a 21.8 percent decline in retail sales, although the company believes upcoming gaming titles will lead to a better next quarter.
UK retailer HMV has posted financial results for its first quarter of the current fiscal year, noting a 21.8 percent decline in retail sales. However, the company said that it was looking forward to good results for the rest of the year, thanks to big gaming releases such as Call of Duty: Modern Warfare 2, Assassin's Creed: Revelations and Batman: Arkham City. For the quarter ended September 3, 2011, HMV chief executive Simon Fox explained, "Trends in HMV Retail were broadly unchanged during the Group's first quarter, with like for like sales decline at 15.1 percent." "Total HMV retail sales, including the impact of 29 store closures, were down 21.8 percent," he continued. The company has yet to reveal actual revenue or profit figures. "Overall, our plans for the Christmas trading period are on track, and we are focused on providing HMV customers with the very best offers across all of our product categories and live venues," he concluded. In June, HMV posted financial results for the 2010 fiscal year, noting that the sale of video games had "significantly underperformed" compared to the company's expectations.

Latest Jobs

Pocketwatch Games

Remote
01.05.22
Senior Gameplay Engineer

Disbelief

Cambridge, Massachusetts
01.07.22
Jr. Programmer

Gameloft Australia

Brisbane, Australia
01.06.21
Creative Director

Sucker Punch Productions

Bellevue, Washington
01.06.22
Senior Systems Designer
More Jobs   

CONNECT WITH US

Register for a
Subscribe to
Follow us

Game Developer Account

Game Developer Newsletter

@gamedevdotcom

Register for a

Game Developer Account

Gain full access to resources (events, white paper, webinars, reports, etc)
Single sign-on to all Informa products

Register
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more