World Cup sparks fall in HMV sales

Sales at music and DVD retailer HMV fell as the attention of UK and Irish customers turned to the World Cup.

Sales at music and DVD retailer HMV fell as the attention of UK and Irish customers turned to the World Cup.

In Ireland and the UK, sales at HMV stores open at least a year dropped 14.9 per cent in the 19 weeks ended September 4th, the company  said.

Sales at the Waterstone's chain, owned by HMV, fell 2.6 per cent.

Total sales fell 5.9 per cent.

"Trading during the first quarter of the new financial year continues to be difficult, particularly in HMV UK and Ireland, where the World Cup disrupted the pipeline for new entertainment product, and the games market continued to be weak," chief executive Simon Fox said.

HMV is attempting to compensate for falling DVD and CD sales by adding more digital products and live music and revitalising Waterstone's in part by catering to local markets. The group said Waterstone's market share performance improved in the quarter.

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“Overall our plans for the peak trading period are in good shape, and our focus is on providing our customers with the best offers across all product categories and live venues,” Mr Fox said.

Additional reporting: Bloomberg

Ciara O'Brien

Ciara O'Brien

Ciara O'Brien is an Irish Times business and technology journalist