HMV share price falls in UK

HMV shares were 12% lower in the UK today as analysts reacted to the latest profits warning and expressed initial disappointment at the content of the review.

Nick Bubb, a retail analyst at Pali International stockbrokers, said he had been underwhelmed by the measures outlined by HMV to boost revenues.

He said: “There is no new ’store of the future’ format ready to be unveiled at HMV. This won’t be trialled until the autumn, which is disappointing. The measures to grow online sales are also interesting, such as the new networking site, but competition is strong.”