HMV rescue strategy sees sales uplift in UK

Beleaguered music retail chain HMV today said its turnaround plan was making headway as it posted a 6% hike in sales and prepared to open the doors to its first “next generation” store.

HMV UK & Ireland saw like-for-like sales growth of 10% in the 18 weeks to September 1, while soaring demand for the final book in the Harry Potter series sent Waterstone’s like-for-like sales up 2.7%.

The group added it was launching its first new format HMV store tomorrow, with the revamp of an 8,000 square foot outlet in Birmingham’s Merry Hill Shopping Centre.

HMV is hoping the new look stores will help reverse a decline in performance after a tough previous year saw pre-tax profits more than halved.