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Hmv Profit Warning

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More sign of a robust recovery? Or a shop with a poor business plan?

The latter. Obsolete business model.

The shock would be if they made a good profit.

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dead. amazon, the supermarkets, & downloading have killed specialist music shops. they're part of the past, like, uh, blacksmiths & whatnot. sad but inevitable.

Specialist music shops are doing better than the generalists.

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Specialist music shops are doing better than the generalists.

By 'specialist music shops', I suspect that TFP meant 'high street shops that sell wholly or mainly audio-visual content to consumers on physical media'. Agreed - HMV are going the same way as Blockbuster, and for the same reason.

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The thing is HMV's online presence is pretty good, prices often better than Play & Amazon and they deliver far more quickly than those two for free.

In fact their shops have a Hell of a lot of bargains in them every day, maybe in trying to compete on price they have cut their margins to the quick ..?

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The thing is HMV's online presence is pretty good, prices often better than Play & Amazon and they deliver far more quickly than those two for free.

In fact their shops have a Hell of a lot of bargains in them every day, maybe in trying to compete on price they have cut their margins to the quick ..?

Are you kidding? Their prices are terrible.

Every. Single. One. of their xbox games are priced higher than gamestation or game around the corner.

They sell things for £40 competitors have reduced to £25, they're completely out of touch with what games flop or not, or how long they have been out.

Reminds me of Woolworth's video game section.

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Are you kidding? Their prices are terrible.

DVDs & PS3 games are cheap as chips there, have bought probably 25 in the last year, got Virtual Tennis 3 for £6.99 the other day. But yeah, looks like there'll be another empty shop in hundreds of High Streets in the coming months ...

The big shame will be for the workers, cos I've always found HMV staff to be very friendly & polite.

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DVDs & PS3 games are cheap as chips there,

not in Southampton, if i cant wait i find HMV more expensive than Game and Game Station frequently even the supermarkets are cheaper for most. if i can wait i'll buy on line

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Are you kidding? Their prices are terrible.

Every. Single. One. of their xbox games are priced higher than gamestation or game around the corner.

They sell things for £40 competitors have reduced to £25, they're completely out of touch with what games flop or not, or how long they have been out.

Reminds me of Woolworth's video game section.

Our HMV changed most of the downstairs stock to games and T-shirts.

Unfortunately there are two branches of Game within 100 yards with a good range and lower prices.

I used to have an occasional browse round the music with the kids, but they've moved all the music to the second floor and they don't have a lift.

So I just buy CDs from eBay or Play instead.

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not surprised by this either. add it to the high street retail death list :

HMV

WH Smiths

WHSmiths is targeting the discerning millionaire stationery shopper who likes shabby stores, terrible customer service from NMW slaves who (rightly) don't like their jobs, and paying full RRP for everything. It's an often overlooked niche.

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The staff could stage a takeover, 14,154 full time employees and a market cap of £68.83m is about £2K for majority ownership with options

at the current price being phased in.

Their rating would go up and suppliers could get cheaper credit insurance, profit is going to be around £45 Million (before today's warning)

and their debt would be reduced. Employees could have a greater say and a motivation to improve the business.

I'm sure they have a large number of part time and full time employees working the tills and restocking, they should know what the business needs to succeed

if they are the same young urbanites who work in most of their stores.

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HMV Executive Directors

Simon Fox 2010 £874,000 2009 £579,000 +51%

Neil Bright 2010 £559,000 2009 £349,000 +60%

Gerry Johnson 2010 £494,000 2009 £312,000 +58%

Non-Executive Director

Robert Swannell 2010 £200,000 2009 £50,000 +300%

http://www.hmvgroup.com/investors/financial-reports/reports-results/~/media/Files/H/HMV-Group/Annual%20Reports/hmv_annual-report-2010.pdf

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By 'specialist music shops', I suspect that TFP meant 'high street shops that sell wholly or mainly audio-visual content to consumers on physical media'. Agreed - HMV are going the same way as Blockbuster, and for the same reason.

aye, cheers.

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The staff could stage a takeover, 14,154 full time employees and a market cap of £68.83m is about £2K for majority ownership with options

at the current price being phased in.

Their rating would go up and suppliers could get cheaper credit insurance, profit is going to be around £45 Million (before today's warning)

and their debt would be reduced. Employees could have a greater say and a motivation to improve the business.

I'm sure they have a large number of part time and full time employees working the tills and restocking, they should know what the business needs to succeed

if they are the same young urbanites who work in most of their stores.

i would love to see this

any similar situations in the past where this has worked?

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i would love to see this

any similar situations in the past where this has worked?

Not that I know of, it mostly refers to the Soviet Union. The West would get a bank to lend the

employees the money to buy the shares and make a bonus from it.

HMV could convert it's debt to shares and pay them to employees instead of money as part of their

salary. That way it would be debt free quite quickly but involve more trust than a takeover or buyout.

Anyone else know of it working?

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Not that I know of, it mostly refers to the Soviet Union. The West would get a bank to lend the

employees the money to buy the shares and make a bonus from it.

HMV could convert it's debt to shares and pay them to employees instead of money as part of their

salary. That way it would be debt free quite quickly but involve more trust than a takeover or buyout.

Anyone else know of it working?

What do the employees do with the shares ?

Are they accepted for payment for 8 bottles of WKD in Yates on a Friday night ? Does Abdul gladly swap them for an extra chilli sauce doner kebab on the way home ?

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HMV Executive Directors

Simon Fox 2010 £874,000 2009 £579,000 +51%

Neil Bright 2010 £559,000 2009 £349,000 +60%

Gerry Johnson 2010 £494,000 2009 £312,000 +58%

Non-Executive Director

Robert Swannell 2010 £200,000 2009 £50,000 +300%

http://www.hmvgroup.com/investors/financial-reports/reports-results/~/media/Files/H/HMV-Group/Annual%20Reports/hmv_annual-report-2010.pdf

Lol, amazing.

The blatant looting is incredible!

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not surprised by this either. add it to the high street retail death list :

HMV

WH Smiths

Though not retailers, I was thinking about outdated business models due to the internet the other day. The reason for thinking about it was that I noticed we have a travel agency in our (fairly large) village.

I appreciate that most of the high street agencies have added currency exchange desks and the like, but surely most holidays are booked online these days?

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The Internet is reshaping the High Street. It's a process that started a decade ago and has gathered momentum during the recession, but the economic downturn is not the primary factor here.

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  • 284 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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