The British multi national retail entertainment company HMV with stores in Hong Kong, Singapore & the UK, has announced to close 60 retail stores in the coming 12 months. They state that the reasoning behind this closure is due to the 10% drop in sales through the Christmas period. This bad sales quarter resulted in HMV share price decreasing by 20% after data revealed that they were having trouble meeting debt.
HMV blames the bad weather and challenging trade conditions..... however, is this actually the case or is it the result of the new softwares such as I Tunes, Net flix and so forth that are taking up there once loyal customer base..?! & is this the end of a well previously loved retailer that have been established since 1921 that have had a continuously struggle for the last few years..?!
0 comments:
Post a Comment