14/01/2002

HMV report dramatic sales increase

HMV, the UK books, music and multimedia retailer, has recorded soaring sales during the trading periods of Christmas and New Year.

HMV Media reported that like-for-like sales - the comparion of sales in shops that were open a year ago - had risen by almost 12 per cent during December and early January. Waterstones, the group's book subsidiary, also recorded a 9.1 per cent rise in sales during Christmas, while HMV Europe, the music and multimedia arm, recorded an even stronger sales rise at 16 per cent.

Chief Executive Alan Giles said: "Shopping in general has been buoyant, but we have captured market share in all the markets we are in so we must take some of the credit."

Robbie Williams and Gabrielle were at the forefront of the surge in CD sales, while Playstation 2 and Game Boy kept the computer games sales figures rising even higher and Ian McEwan, Stephen Hawking and celebrity chef, Jamie Oliver, pushed up the book sales.

Mr Giles also said that the huge rise in sales of DVD players had been a "phenomenal growth machine". He added: "Roughly 12 per cent of UK homes have a DVD player, so there is a lot more growth to come".

Overall, this has been an excellent year for HMV, with group sales rising 10.8 per cent so far this fiscal year. (KMcA)

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