HMV Group PLC Interim Management Statement (8030M)
21 Septiembre 2012 - 1:00AM
UK Regulatory
TIDMHMV
RNS Number : 8030M
HMV Group PLC
21 September 2012
Interim Management Statement
21 September 2012
HMV Group plc, the UK's leading retailer of entertainment
products, today announces its interim management statement for the
20 weeks ended 15 September 2012.
Trends in HMV Retail were broadly unchanged during the period
under review, with a like for like sales decline of 11.6%. Sales of
portable digital technology devices, products and services continue
to grow strongly, driven by the programme of store refits and the
continuing evolution and development of our in-store service
proposition. As anticipated the summer has seen a very quiet new
release schedule in the Group's core music, visual and games
markets and, whilst the Group has increased share in these markets,
it has continued to experience significant market value declines.
Including the impact of previously announced store closures, total
Group sales declined by 14.8%.
The Group completed the disposal of the Hammersmith Apollo for
GBP32m, which enabled it to successfully amend the terms of the
existing GBP220m Bank Facility with the existing lenders and extend
the Facility by a further year to September 2014. The strategic
review of the remaining HMV Live business is ongoing.
Trevor Moore, Chief Executive, said: "These numbers reflect the
challenging markets in which we operate. However, the like for like
decline was less marked towards the end of the period and we should
be helped in the remainder of the year by a strong pipeline of new
releases in the music, DVD and games markets ahead of
Christmas."
Enquiries
Brunswick Mike Smith, Nick Cosgrove 020 7404 5959
Notes
1. HMV Retail comprises the results of HMV UK, Ireland, Hong Kong and Singapore.
2. Like for like sales (decline) growth and total sales
(decline) growth are stated at constant exchange rates.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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