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HMV says full-year sales will be in line with forecast, falling 2 percent

HMV says full-year sales will be in line with forecast, falling 2 percent

HMV Group PLC, the British music and books retailer, said Thursday full-year sales will be in line with its recently lowered forecasts, falling 2 percent.
Sales at stores open at least a year are expected to be down 3.5 percent in the year through April 28, the company said.
HMV downgraded its forecasts on March 13, acknowledging that it had been slow to adapt in a rapidly changing environment.
HMV shares were up 1.7 percent at 118 pence (euro1.73; US$2.35) on the London Stock Exchange.
"Our businesses are now planning on the basis of continuing market change, and I am confident that the initiatives we are putting in place to reduce our costs, revitalize our core business and grow our revenues," said Chief Executive Officer Simon Fox.
Fox said Internet sales through HMV.co.uk grew by 150 percent in the recent 16 weeks, and the company was expanding the range of electrical products it sells in its stores.
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http://www.hmvgroup.com


Updated : 2021-06-24 14:28 GMT+08:00