Re-claiming the position from Amazon...
One of Britain’s most iconic high street names, *HMV* has endured a torrid few years.
The chain collapsed, with new owners Hilco closing around a third of its stores. Since then, the new less-is-more theory seems to be working, with subtle changes – an increase in vinyl, for one – helping to win back fans.
Profits are up, with HMV re-claiming its position as the country’s largest retailer of physical music. Amazon had previously seized top spot, but according to figures obtained by the *Telegraph* high street chain HMV is No. 1 once more.
Among the more jaw dropping figures: sales of vinyl have soared by 170% year on year.
Paul McGowan, chief executive of Hilco, said: “HMV has captured more and more market share in a year when major new movie releases have been scarce and there have been only a few major album successes.
“With a bumper year of new releases already planned for 2015 we expect to have overall growth in like-for-like DVD and Blu-ray sales as well as continued growth in the physical music sector with vinyl also expected to continue its revival.”
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Get Clash on your mobile, for free: *iPhone* / *Android* Reported by Clash 15 minutes ago.
One of Britain’s most iconic high street names, *HMV* has endured a torrid few years.
The chain collapsed, with new owners Hilco closing around a third of its stores. Since then, the new less-is-more theory seems to be working, with subtle changes – an increase in vinyl, for one – helping to win back fans.
Profits are up, with HMV re-claiming its position as the country’s largest retailer of physical music. Amazon had previously seized top spot, but according to figures obtained by the *Telegraph* high street chain HMV is No. 1 once more.
Among the more jaw dropping figures: sales of vinyl have soared by 170% year on year.
Paul McGowan, chief executive of Hilco, said: “HMV has captured more and more market share in a year when major new movie releases have been scarce and there have been only a few major album successes.
“With a bumper year of new releases already planned for 2015 we expect to have overall growth in like-for-like DVD and Blu-ray sales as well as continued growth in the physical music sector with vinyl also expected to continue its revival.”
*Buy Clash Magazine*
Get Clash on your mobile, for free: *iPhone* / *Android* Reported by Clash 15 minutes ago.