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Hmv Reports Another Plunge In Sales

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http://www.independent.co.uk/news/business/news/hmv-reports-another-plunge-in-sales-2351813.html

The boss of struggling entertainment group HMV today vowed to press on with plans to overhaul its technology offering as he reported another plunge in sales over the summer.

HMV chief executive Simon Fox said the first six "Fast Forward" stores - where up to 25% of floor space is devoted to gadgets such as iPods and tablet computers - recorded a doubling in like-for-like sales in the 18 weeks to September 3.

Mr Fox said HMV would this month continue to roll-out these space changes at the majority of the retailer's 150 stores after unveiling a 15.1% decline in like-for-like sales across the HMV Retail network.

Shocking I mean who would expect this?

Perhaps going after the stock That's Entertainment has got might help and flog CD's for 99p to get people in. It must be at least 5 years since I last bought something from HMV.

If I want an old album I usually get it from Amazon, usually for £2 or less.

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The problem with hmv et all is there are far easier and cheaper ways to get your media. O can stream films via my playstation from lovr film @ £6 per month. As many films as i want. I can get all my music via itunes/ amazon etc and my electronics i can order from dabs for alot cheaper too.

I can get all of that with out leaving my house.

Or i can drive 30 mins. Get stuck in traffic. Get angry as other people cant drive. Spend ages looking for a parking space close to where i want to go. When i do find on pay an extorcionate rate to park. Battle through mongs. Then find what i want after looking for half an Hour as someone put it back in the wrong place. Pay over the odds for it. Get sneered at by teenange till person and then drive 30 mins back home

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The problem with hmv et all is there are far easier and cheaper ways to get your media. O can stream films via my playstation from lovr film @ £6 per month. As many films as i want. I can get all my music via itunes/ amazon etc and my electronics i can order from dabs for alot cheaper too.

I can get all of that with out leaving my house.

Or i can drive 30 mins. Get stuck in traffic. Get angry as other people cant drive. Spend ages looking for a parking space close to where i want to go. When i do find on pay an extorcionate rate to park. Battle through mongs. Then find what i want after looking for half an Hour as someone put it back in the wrong place. Pay over the odds for it. Get sneered at by teenange till person and then drive 30 mins back home

:lol: Actually lol'd

My favourite bit was "battle through mongs".

Thats how I feel getting past motorists on my bike ;)

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The problem with hmv et all is there are far easier and cheaper ways to get your media. O can stream films via my playstation from lovr film @ £6 per month. As many films as i want. I can get all my music via itunes/ amazon etc and my electronics i can order from dabs for alot cheaper too.

I can get all of that with out leaving my house.

Or i can drive 30 mins. Get stuck in traffic. Get angry as other people cant drive. Spend ages looking for a parking space close to where i want to go. When i do find on pay an extorcionate rate to park. Battle through mongs. Then find what i want after looking for half an Hour as someone put it back in the wrong place. Pay over the odds for it. Get sneered at by teenange till person and then drive 30 mins back home

I lol'ed too.

I nearly choked on my baguette.

I also agree with you. I'd also like to add that I have no sympathy for them. When I was a teenager, HMV would cheekily demand £15 for an album from my pocket money.

Why is the whole retail sector stupid?

During the week they open for regular hours. Whilst most people are at work. They close at 5. When most people that work would liek to spend their money.

Their full time staff don't work weekends. When most working people spend their money.

The era of captive audiences and consumer ignorance is long gone.

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They charge the earth for things you get get from online retailers often at the fraction of the cost which are conveniently shoved through your letter box without you having to leave the comfort of your east chair. It really is a no-brainer and HMV just don't seem to get it.

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They charge the earth for things you get get from online retailers often at the fraction of the cost

Exactly.

I can't remember the last time I bought something for myself in HMV. In fact I probably don't go inside their stores more than once a year.

I've used their online service on occasion (when they had the cheapest price).

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The thing is, people still like music. That's one thing that will never change. People just aren't prepared to spend hard-earned money in a shop that will sell you the CD you want but doesn't have in stock for 3 times the internet price with a longer wait-time.

Surely an enterprising person could use a premises to charge the public for practice rooms, recording facilities, music classes etc. as well as selling or renting out instruments and accessories and maybe even a few CDs. It could be a cool place to hang out and a lot more fun than going to a gym.

Edited by Diver Dan

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HMV have problems again?

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

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

Lloyds have taken an equity stake so the gravy will keep flowing for at least another two years

http://news.sky.com/home/business/article/16006972

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HMV have problems again?

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

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

Lloyds have taken an equity stake so the gravy will keep flowing for at least another two years

http://news.sky.com/home/business/article/16006972

Don't the shareholders see this and question it?

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Don't the shareholders see this and question it?

Yes.

There are an increasing number of shareholder revolts against executive remuneration but when they vote against it they always lose because private shareholders don't own enough of the shares to win the vote. They are owned by other institutions who vote the remuneration through because they want the same for themselves.

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They are owned by other institutions who vote the remuneration through because they want the same for themselves.

What? Bankruptcy? :huh:

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Exactly.

I can't remember the last time I bought something for myself in HMV. In fact I probably don't go inside their stores more than once a year.

I can - a Christmas distress purchase when I was desperate to buy a DVD for someone and it was too late to order. I had to stump up a whopping £20 for a crappy cut-down Region 2 version of a film, when the equivalent Region 1 from America would have cost under £14 including postage with double the extras. I knew it would be a huge ripoff but I was still angry. (I and all my friends have always had multiregion DVD players from the start).

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Why is the whole retail sector stupid?

During the week they open for regular hours. Whilst most people are at work. They close at 5. When most people that work would liek to spend their money.

Their full time staff don't work weekends. When most working people spend their money.

The era of captive audiences and consumer ignorance is long gone.

+1

I've never understood why shops open 9 to 5 when most people are at work. Milton Keynes shopping centre is one of the largest and busiest in Europe but it's dead on weekdays especially before midday. Surely it would be better to open at 12pm on weekdays, catch some business at lunchtime and stay open until 9pm so people can shop after work.

British closing times really grind my gears. Go on holiday in Europe and you can shop and get a meal at a cafe until the early hours of the morning. Go to any UK holiday town and you can barely get an ice cream after 4pm, it's like the witching hour and the shutters come down everywhere.

Edited by monstermunch

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  • 335 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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