News article

Sales rise at HMV

Sales rise at HMV
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Entertainment retailer HMV saw its like-for-like sales rise 1.7 per cent in the 18 weeks to August 29th.

The firm cited expansion into 29 sites previously occupied by competitor Zavvi and increased market share as reasons for the jump in sales over the summer months, news that may interest investors trading HMV shares in the stock market.

Chief executive of the HMV Group Simon Fox stated that the company has made a "solid start" to the current financial year, despite the fact that its bookstore chain Waterstone's saw like-for-like sales fall 3.4 per cent over the same period.

Mr Fox said at the group's annual general meeting that its "plans for the peak selling period are in good shape".

He added that it intends to give customers "the very best offers" in order to maximise performance in the run-up to Christmas.

Following the announcement, shares in HMV dipped 1.57 per cent to be priced at 112.9p at 09:02 BST.ADNFCR-1681-ID-19344008-ADNFCR