HMV dreaming of a busy Christmas

Music giant HMV today said it was on track for a strong Christmas after seeing sales recover from a lull caused by the World Cup earlier this summer.

Sales across the group, which also runs book chain Waterstone’s, were up 5% in the 13 weeks to September 21 with like-for-like growth of 2.2%.

Like-for-like sales growth was just 0.5% in the previous eight weeks as the World Cup and Golden Jubilee celebrations meant shoppers stayed at home.

HMV chairman Eric Nicoli said: “We are well placed for the important Christmas period and at this stage we are confident that we will achieve our financial targets.”

The strongest growth in the recent 13 week period has come from HMV’s European division, where like-for-like sales rose by 7.2%.

The group was formed over three years ago when EMI span off HMV and Dillons and the new business bought Waterstone’s from WH Smith on the same day.

It runs 325 music stores and 197 Waterstone’s book shops worldwide.