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HMV strategy update impresses

Fri, 26th Mar 2010 10:25

Shares in HMV were in demand after the CD and DVD retailer unveiled a strategy that involves lifting sales of new products, increasing its presence in the live music and ticketing market and continuing to improve margins at the Waterstones book store chain.HMV plans to increase sales of new non-CD and DVD products such as technology and entertainment-inspired fashion from 9% of sales to 21% by 2012/13.Noting that the live music market is expected to be about a third larger than recorded music by 2012, HMV said it will add two to three new venues to MAMA, the operator of venues including London's Hammersmith Apollo. It also targeting sales of 3m tickets by MAMA in 2012/13.With the demise of the Borders book store chain, HMV sees Waterstones as well-placed to consolidate its position as the last remaining specialist bookseller on the high street. It plans to increase non-book sales from 6% to 10% by 2013.