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HMVTue, 15th Jan 2013 06:59
The dog days of summer were not good for entertainment media retailer HMV, which saw another catastrophic decline in like-for-like (LFL) sales, casting more doubts over the long-term future of the company. In the 20 weeks to September 15th, LFL sales in HMV Retail slumped 11.6%, though the decline
Read moreFormer HMV boss Simon Fox has stepped out of the frying pan of the music industry and into the fire of publishing as new boss of Trinity Mirror. In an impressive piece of understatement, Trinity's announcement said Fox "understands structurally changing sectors". He follows in the footsteps of Sl
Read moreShares in newsagent chain WH Smith reached an all-time high on Thursday as the company raised profit guidance for the year and announced a new share repurchase programme. The company, which has returned £377m to shareholders through dividends and share buybacks since the end of August 2007 has earm
Read moreSmart metering firm Bglobal rocketed 31 per cent in morning trading on Thursday after signing a joint venture agreement with South Korean electronics giant Samsung. Bglobal says the agreement will only come into effect after it receives a firm order from a UK energy supplier for its 'smart energy' s
Read moreHMV Group, the music and entertainment retailer, has completed the sale of Hammersmith Apollo following clearance by the German Federal Cartel Office and the Office of Fair Trading. The company announced on May 31st that it would sell the business to STAGE C for a total consideration of £32m. HM
Read moreHMV Group, the music and entertainment retailer which recently announced the departures of its Chief Executive Officer and Finance Director, has poached Ian Kenyon from Best Buy Europe to fill the latter role. Kenyon will join the company on September 3rd from Carphone Warehouse, where he has been
Read moreHMV, the music and entertainment retailer which has lost 99pc of its value since December 2004, has confirmed its finance director is to leave. David Wolffe will "will remain with the company until a successor is appointed to ensure a smooth handover". Wolffe will follow outgoing Chief Executive S
Read moreOne of Brazil's biggest banks is plotting a bid for the prized American business of Royal Bank of Scotland. Itau Unibanco is eyeing a move for Citizens, the Rhode Island-based retail bank built up through a series of acquisitions by Fred Goodwin, the former RBS chief executive. Citizens has more tha
Read moreAfter six tough years at the helm of entertainment media retailer HMV, Simon Fox has decided to let someone else have a crack at completing the chain's transformation in the digital age. Fox will be succeeded by Trevor Moor, who until recently was Chief Executive of cameras retailer Jessops, so he
Read moreSupermarket firm Sainsbury has made a surprise move into the e-book retail market with the acquisition of HMV's stake in online venture Anobii. Cash-strapped entertainment media retailer HMV is selling its stake in the social network and online retailer of e-books for just £1. As a result of the tr
Read moreThere are signs of hope for struggling high street entertainment chain HMV as it looks to capitalise on the demise of its rival Game. Its latest trading update reveals HMV expects to make a loss of around £16m in the full year to April 28, with like-for-like sales down 12.4% in the last 17 weeks of
Read moreHMV Group, the struggling entertainment media seller, has confirmed that it is still pondering what to do with its live music business. HMV added that a number of parties have indicated an interest in acquiring the business. There has been press speculation recently about who might be interested in
Read moreStruggling entertainment media and hardware seller HMV has been given a bit of breathing space by its bankers and suppliers. The group said the banking syndicate has agreed to amend the covenant package on HMV's existing borrowings, after the group secured the support of key suppliers, albeit at a
Read moreChina can maintain an annual growth rate of 8% for the next two decades, the World Bank has said, raising hopes that the powerhouse economy will help lead other countries back to growth. Justin Lin, the World Bank's chief economist used a wide-ranging speech in Beijing to issue the upbeat prognosis
Read morePanmure Gordon has downgraded its rating on business outsourcing giant Capita from hold to sell, saying that its preference lies elsewhere in the sector. The broker has also cut Capita's target price from 700p to 560p which equates to a forward earnings multiple of 10, in line with its peer group.
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