Mon, 19/12/2011 - 14:09
The HMV Group made a profit of £11.5m from the sale of book chain Waterstone's, but the fillip did not prevent the CD and DVD retailer sinking further into the mire with operating losses for the six months to end-October up 25% to £30.4m after sales fell 18%.
Total sales were £364.9m, down 17.6% on 2010 (£...
Wed, 02/03/2011 - 08:44
HMV Group has "substantially" backed a social networking site called aNobii, which aims to help readers find buy and share books.
The website, www.anobii.com, has existed since 2006 but was bought recently by internet entrepreneur Matteo Berlucchi, who founded Livestation, a live TV...
Mon, 28/02/2011 - 08:33
HMV will hold talks this week with Russian investor Alexander Mamut over a possible sale of Waterstone's.
The Mail on Sunday reports the entertainment retailer will use a sale of the book chain to...
Fri, 04/02/2011 - 09:04
A Russian tycoon with a stake in the HMV Group has hired Credit Suisse to advise him on options for the retailer.
Sky News reports Alexander Mamut owns 6.1% of the group and is exploring the option of breaking up HMV and Waterstone's. HMV...
Thu, 06/01/2011 - 09:10
HMV Group should follow W H Smith's lead in ruthlessly cutting costs if it is to survive, according to press reports on its Christmas trading figures. There were also further calls for the group to sel off Waterstone's in a bid to reduce its debt.
Retail analysts were gloomy about the retailer's ability to manage the...
Wed, 05/01/2011 - 08:26
Waterstone's delivered an improved performance in the five week over Christmas with like-for-like sales down by 0.4%, but a poor performance at sister chain HMV had led to its parent company HMV Group indicating it will close 60 stores, including some Waterstone's shops, after admitting that it needs to take action to ensure it...
Thu, 09/12/2010 - 09:10
Waterstone's has reduced its losses by £3m to £9.9m, with total sales down 2.4% to £219.5m and like for like sales down 3.2%.
In its interim management statement for the six months to 23rd October 2010, the retailer said the improvement in its losses were due to its enhanced local offer and more selective...
Tue, 19/01/2010 - 09:00
Waterstone's commercial director Neil Jewsbury has left the business as new managing director Dominic Myers looks to move away from the 'one-size fits all' approach of the previous regime.
Tim Watson has been reinstated to a new position of product director. Watson, who decided to leave Waterstone's late last year, will...
Thu, 14/01/2010 - 12:43
HMV Group chief executive Simon Fox has pledged to take a greater interest in Waterstone's after his right-hand man Dominic Myers stepped into Gerry Johnson's shoes as managing director with immediate effect following a poor Christmas at the nationwide book chain.
"I will be keeping a very close eye on things . . . improving...
Thu, 03/09/2009 - 07:30
Waterstone's sales have dropped 2.6% in the 18 weeks since the end of parent HMV's financial year, the company has said. On a like-for-like basis sales are down 3.4% at the bookshop chain in the period to 20th August. HMV said the figures were "broadly in line with the book market".
HMV also announced that it was...