The Bookseller.com

5th July 2009

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Analyst expects recovery for HMV

20.06.07 Graeme Neill

Retail analyst Nick Bubb of Pali International expects an upturn for Waterstone's when the book chain's preliminary full-year results are revealed next week.

Bubb said that while the long-term outlook for parent company HMV "remains difficult", there should be better news when the music retailer publishes its results next Thursday (28th June).

"A year ago they had to admit that HMV UK was down 17% in like-for-like sales in May/June and that Waterstone's was down 6% like-for-like," he said. "So against that they should be able to report sales no worse than flat or, hopefully, some indication of a recovery."

Retail waterstone's HMV Graeme Neill