HMV Blames ‘Weak New Release Schedule’ For $26 Million Loss (But Predicts Imminent Return To Profitability)

May 5, 2012 at 1:02 am Leave a comment



Troubled British retailer HMV has forecast a pre-tax loss of £16 million ($25.9 million) for the year ending April 28, blaming a "weak new release schedule in CDs and DVDs" in the fourth quarter for the lower than expected sales.
The retailer had previously forecast a year-end pre-tax loss of £10 million ($16.2 million). HMV Group, which also includes its profitable live arm HMV Live, expects year-end net debt to be approximately £168 million ($271.9 million), representing an improvement on its £180 million ($291.4 million) debt forecast the previous quarter.


Entry filed under: Uncategorized.

How To Offer Free Music Downloads And Press Kits Via Dropbox & WordPress Google Opens Free Hangouts On Air To All

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed