HMV Christmas figures music to its ears

Music retailer HMV proved to be one of the high street’s best performing companies over Christmas after figures today showed a healthy rise in sales.

The UK’s largest retailer of music, videos and books said sales in the five weeks to January 3 rose 6.6% and by 3% on a same-store basis.

The Christmas data, which also covers the Waterstone’s book chain, was released at the same time as interim results showing a 70% rise in half-year profits to £10.7m (€15.5m).

Chief executive Alan Giles said: “The strong Christmas trading, coupled with pleasing performance in the first half, leaves us well placed to deliver our targets in the group’s second full financial year since flotation.”

Despite strong competition from supermarkets in the home entertainment sector, HMV said it continued to sell more music and DVDs than all its grocery rivals put together.

Christmas bestsellers included albums by Dido, Black Eyed Peas and Red Hot Chili Peppers while the DVDs of Pirates Of The Caribbean and Peter Kay Live also sold well.