HMV breaks own Christmas sales record

Retail chain HMV has broken its own Christmas sales records for the third year in a row, with total group sales up 6.7 per cent and like for like sales down 1.2 per cent.

As part of an interim management statement, the firm revealed sales figures for the five and ten week periods ending January 2. Results were adversely affected by the performance of the company's international business and beleaguered bookseller Waterstone's, but sales in the UK and Ireland alone saw a 14.6 per cent increase and a like for like rise of 2.2 per cent.

No specific data was given for videogame sales, but over 27 million CDs, DVDs and games were said to be sold over the five weeks in the UK and Ireland, with 'technology and related products' seeing a sales increase of 50 per cent on the previous year.

For the longer ten week period beginning October 25, the group saw total sales rise by 5.5 per cent, with a 2.1 per cent decline in like for like sales. UK and Ireland sales saw a 13.4 per cent increase and a like for like rise of 1.4 per cent.

"As we approach the final part of our three-year plan to transform the group, it is pleasing to report that HMV UK has enjoyed record trading for a third successive Christmas," said CEO Simon Fox. "Consequently, we remain confident in the outlook for the Group for the current financial year."