Feeds

HMV faces the music after crap Christmas

But CEO insists gadget store facelift is working

Choosing a cloud hosting partner with confidence

British High Street store HMV will inch away from CD and DVD retail and re-angle itself as a gadget seller, it announced today after another disappointing Christmas performance.

With an 8.1 per cent yearly drop in like-on-like sales for the 2011 Christmas period, HMV is turning to technology to spare it financial doom. The grizzly sales drop was actually an improvement on the week before Christmas when it looked like holiday sales were running down more than 13 per cent on 2010. CEO Simon Fox reported that the firm sold 500,000 pairs of headphones in December and 20,000 tablet computers. Twenty-five per cent of headphones bought in the UK last year were sold by HMV, said PR chief Gennaro Castaldo, adding that the figure included 40 per cent of the vogueish Dr Dre Beats headphones.

Asked how HMV would differentiate itself from the existing players in the tech store space – PC World et al – HMV PR chief Gennaro Castaldo told El Reg that its more centrally located stores and association with music and media would make HMV a different offering: "We have heritage in music, film and games - it makes sense for us to sell content and devices," he said.

The store wouldn't be rebranding, Castaldo said, but the company is in process of redesigning its stores to put tech products at the forefont.

Selling gadgets isn't a guaranteed route to retail success, as Best Buy found out in 2011 when the American budget gadget store was forced to shutter its year-old UK outlets. The market for resellers is cut-throat too, with the end of last year seeing a record number of insolvencies.

Besides re-angling its retail outlets, the firm is looking to sell HMV Live – its venue and events arm – in an attempt to help pay off the company's £160m debt. ®

Security for virtualized datacentres

More from The Register

next story
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.