HMV says news stores hit high note

Music retailer HMV today praised the “excellent performance” of 21 new stores as its first year as a listed company resulted in a 20.6% leap in profits.

The new outlets at locations including Carlisle, Grimsby, Winchester and Truro helped sales in the HMV Europe division to rise 10.6% to £867.4 million and operating profits to gain 19.7% to £88.6 million in the year to April 26.