Music and book retailer HMV has suffered a slide in sales as it struggles with competition from supermarkets and the Internet.
However, it is still expecting profits to meet analysts expectations.
HMV, also owner of the Waterstone's book chain, said pretax profits before exceptional costs will be in the middle of a range of £93 million to £103 million.
That is after group sales fell 1.5 per cent including a 5.7 per cent like-for-like decline in the year to April 29.
In the last 16 weeks of the financial year, HMV's UK and Ireland shops saw underlying sales drop 11.4 per cent, while its Waterstone's book chain suffered a 5.6 per cent decline. That is more than double the decline seen over the disappointing Christmas period.
The retailer, which turned down a private equity bid attempt in March, last week saw off Tim Waterstone, who dropped his latest attempt to buy back the book chain he founded.
HMV has its own eye on rival book chain Ottakar's and is awaiting clearance due by May 22nd for a possible bid. On Tuesday, HMV declined to say whether it would definitely try again to buy it.