Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
September 17, 2014
arrowPress Releases
September 17, 2014
PR Newswire
View All





If you enjoy reading this site, you might also want to check out these UBM Tech sites:


UK Retailer HMV Posts First Half Losses, 'Significant Doubt' Over Future
UK Retailer HMV Posts First Half Losses, 'Significant Doubt' Over Future
December 19, 2011 | By Mike Rose

December 19, 2011 | By Mike Rose
Comments
    1 comments
More: Console/PC, Business/Marketing



UK video game retailer HMV Group has posted financial results for the first half of the current fiscal year, noting a decline in revenue and notable losses year-over-year.

HMV is one of the leading video game, music and video retailers in the UK, and currently operates over 250 stores across four countries. Earlier this year, the company noted that its sales of video games had "significantly underperformed."

A statement from the company explained that, while it is confident that it will "have adequate resources to continue in operation for the foreseeable future," the current economic climate "may cast significant doubt on the Groupís ability to continue as a going concern in the future."

"This has been a challenging start to the year," admitted HMV chief executive Simon Fox. "However, we have taken decisive action to restructure the business and are now seeing the benefits of this, particularly in our Technology products business."

He continued, "Like all consumer-facing companies we are facing tough trading conditions but we continue to push forwards through this period. We remain well prepared for the key trading days ahead."

For the half year ended October 29, the company reported revenue of £364.9 million ($566.5 million), down 17.6 percent compared to the previous fiscal year's £442.7 million ($687.3 million).

In terms of losses, the company posted a loss of £50.1 million ($77.8 million), compared to losses of £30.9 million ($50.0 million) year-over-year.


Related Jobs

Crystal Dynamics
Crystal Dynamics — Redwood City, California, United States
[09.16.14]

Senior Environment Artist
DoubleDown Interactive
DoubleDown Interactive — Seattle, Washington, United States
[09.16.14]

Principal Game Designer
DoubleDown Interactive
DoubleDown Interactive — Seattle, Washington, United States
[09.16.14]

Senior Product Manager
Mobilityware
Mobilityware — Irvine, California, United States
[09.16.14]

Senior UI Artist










Comments


Christopher Enderle
profile image
Strange how the digital age seems to be hurting video game retail sales so badly, but movies and music are doing just fine. Maybe we should start printing games on vinyl.


none
 
Comment: