Music and DVD retailer HMV Group said its first-half loss widened on lower demand in UK and Ireland stores, with the severe winter weather keeping shoppers at home.
The net loss was £31.3 million for the six months ended October 23rd, compared with £17.8 million a year earlier, the company said today.
The group also owns Waterstone's bookstores.
Revenue fell 6 per cent to £749.5 million and sales from HMV UK and Ireland retreated 15 per cent to £399 million. The retailer is adding loyalty cards and diversifying into live music venues and festivals to boost sales as competition increases from supermarkets and online retailers.
HMV said the full year outlook will depend on the holiday period and it has already been affected by the cold and snowy weather earlier this month.
"Despite more encouraging trading at the beginning of the second half, the start to the Christmas trading period has been undermined by the severe weather of the last two weeks, which has significantly affected consumer footfall and consequently makes trading patterns hard to determine at this stage," HMV said
Bloomberg
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