HMV staff in line for 'bonus'

<p>Over 1,200 store managers and back-office staff at Waterstone&#39;s and HMV are due to receive a bonus of up to &pound;5,000 after the book and music chains reported better-than-expected Christmas trading figures, reveals the Telegraph.<br /><br />As a result of the performance, UK store managers, supervisors and head office staff will share a bonus pot of &pound;6m, the first bonus that the retailer has paid in two years.<br /><br />Staff were not the only people cheering yesterday, after the group revealed what c.e.o. Simon Fox called its best ever Christmas. Its share price rose as analysts digested the surprise news. In a note entitled &#39;Not Doomed After All?&#39;, Nick Bubb, retail analyst at Pali International, upgraded his pretax profit forecast for the current year from &pound;52m to &pound;56m and said that HMV has seen an &quot;amazing&quot; turnaround.<br /><br />The FT commented: Plenty of sceptics would still claim yesterday&#39;s 4 per cent rise in the shares was a dead dog bounce for the retailer and its trademark hound. That seems harsh. As other bricks-and-mortar competitors across the HMV and Waterstone&#39;s range tend their wounds (Currys, Woolworths) or refine their offering (WH Smith), the group seems better placed than many to be the last man standing on the high street.<br /><br /><br /></p>