HMV on the up

Music retailer has best Christmas sales and secures new venue venture

15 January 2009 - It’s already been reported that HMV is taking over 14 Zavvi stores and yesterday (14 Jan) it was heard the chain has obtained 11 live spots, including London's Hammersmith Apollo.

Today (15 Jan), HMV announced it enjoyed its best Christmas ever, with sales up 3% in the five weeks leading up to 3 January.

It enjoyed high album sales during the festive period from top selling artists Kings Of Leon, Take That and Leona Lewis.

“For HMV, our like-for-likes were up 3% and for the group they were up 0.5%,” HMV Chief Executive, Simon Fox, explained. “Woolworths was obviously going into administration during Christmas which is extremely sad but it is an opportunity for us. It’s our responsibility to make the most of it and make our stores as attractive as we can.”

HMV has been labelled the “last man standing,” as it is now the last big music retailer on the high street.

Fox also revealed they don’t have plans for job cuts: “We’ll be creating jobs and I’m delighted that we’ve been able to preserve 270 jobs at the Zavvi stores that we just acquired yesterday.”

74 of Zavvi’s remaining UK stores will stay open while the administrations continue to try and sell the business.

"Woolworths was obviously going into administration during Christmas which is extremely sad but it is an opportunity for us."
HMV Chief Executive

Meanwhile, HMV has teamed up with Mama Group, which owns the Barfly pubs, to form a new company to run a series of live venues across the UK.

London’s Hammersmith Apollo, which holds 5,100 people, will change its name to the HMV Apollo in a naming rights deal.

The new tie up will also own London’s Forum and Jazz Café, Edinburgh's Picture House, the Birmingham Institute and Moshulu in Aberdeen.

“It’s a fantastic move for us,” said the HMV boss. “Music is in our DNA and we think there are lots of synergies between our passionate music loving customers and live experiences.”

The joint venture is set to hold a Franz Ferdinand show, its first event, at the HMV Apollo on 9 March.

Georgie Rogers