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HMV reports Christmas sales decline

Entertainment retailer HMV has posted disappointing Christmas sales figures for the five weeks up to the end of December.

Like-for-like sales, which do not count the closure of stores, fell by 8.1 per cent in this period with total sales down by 16.6 per cent. The store has recently admitted that business had been slow as the firm attempts to stave off administration.

The group did note a slowing decline of its music and film business with the company considering scaling back its video game sales as its share fell by 16 per cent across its stories in the UK.

Simon Fox, chief executive, said: "The continuing actions to focus the business and to expand our technology offering are beginning to show through. We are seeing a combination of a slowing of the decline in music and film, and acceleration in the growth of technology."

Technology products now represent 12 per cent of HMV sales, from a standing start three years ago. It wants this to grow to 30 per cent over the next three years.ADNFCR-1898-ID-801259001-ADNFCR

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