HMV to close 60 stores as shares and sales fall.

PhaperPlane

PhaperPlane

CAGiversary!
Well, this could be no surprise to you but HMV is closing 60 stores (40 HMV and 20 Waterstones) as shares fall 21% after revealing that Christmas sales were down 10% and that the company is struggling to meet the terms of a bank loan.

You can read more about this here

Well, even if HMV did a closing down sale, majority of the stuff would still be cheaper online. :lol:

So CAG, do you think HMV will kick the bucket this year? Or will they sell off Waterstones to stay afloat?
 
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Waterstones SHOULD be okay.. but it might go the way of Borders... these types of stores just need to stop ripping people off.
Occasionally they might have some good deals but generally they do not. And no longer is HMV the expert music store like it used to be...
 
I just don't get it. Don't stores realise that people would buy A LOT more if they priced down by £5-10?

I don't know anything about shops and how they much they pay etc, but surely it'd generate more profits than what they currently receive.
 
[quote name='SteadiestShark']I just don't get it. Don't stores realise that people would buy A LOT more if they priced down by £5-10?

I don't know anything about shops and how they much they pay etc, but surely it'd generate more profits than what they currently receive.[/QUOTE]

These kinda' stores aren't clever. Its gonna' go the way of Borders. People aren't stupid anymore.. and in these times nobody wants to get ripped off.
 
HMV used to be the choice for music.

iTunes saw to that.

Then they moved into games.

Game, Gamestation & Amazon saw to that.

Now they're trying to be a jack of all trades.

Only good thing i can think of that they did was the "trade in MOH and get Black Ops for £8" deal in november.

Other than that, i can't think of a reason to shop there.
 
I recently got a £20 gift voucher for them...unfortunately I could probably save £20 from buying from elsewhere in the first place...
 
[quote name='DreadZer0']HMV used to be the choice for music.

iTunes saw to that.

Then they moved into games.

Game, Gamestation & Amazon saw to that.

Now they're trying to be a jack of all trades.[/QUOTE]They have to be - it's called diversification. The sad truth is that GAME and Gamestation aren't going to last for much longer if they continue to only sell games.

HMV aren't going the way of Border's just yet. They're still making 10s of millions of profit, but it's not enough to keep the shareholders eating off of solid gold plates.
 
My local one (Dunfermline) closed down just after new year, strange as it only opened in November. I have tons of "pure points" I am going to get £20 in store cdt and try to find somthing worth buying. Even if they matched there own web site in terms of prices they would be better off
 
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