I have been holding HMV shares since floation and yet to make any money. In the meantime, I shorted @ 197.25 hoping to buy at 193 for a quick small gain. Strange no body else seems to be following this stock. All comments welcome.

hmv LOL
they lack internet access right now
gl

double LOL
nothing serious
yeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaa

et toir

http://www.youtube.com/watch?v=CRWNJk9_2hI&feature=related

This is a 4p disaster.

is HMV selling deckchairs ?

Record sale now on.

Is that a pun?

lol skinny.

HMV suffers loss of £36.4m
Grace Jennings-Edquist

Published 19 December 2011 Music giant admits an uncertain future.


Busier times: the Oxford Street, London HMV store last December.
DVD, music and games retail group HMV has admitted facing "uncertainties which may cast significant doubt on the group's ability to continue as a going concern in the future" in a first half results statement today.

The retailer, which posted a pre-tax loss of £36.4m for the six months to the end of October, has now reported devastating like-for-like sales figures in the run-up to Christmas. Shares in HMV fell nearly 10 per cent after the results were published, leaving the business valued at £16.4m.

HMV sold bookseller Waterstone's and HMV Canada in June to raise a total of £55m in a rescue deal with banks- and may now be looking to sell its live music division, which operates legendary venues such as the Forum, it conceded in a statement.

HMV chief executive Simon Fox put on a brave face today, commenting: "Like all consumer-facing companies we are facing tough trading conditions but we continue to push forwards through this period

The High street is of the past.

Blacks leisure finished trading today and there is significant doubt whether HMV will continue in its present form.

One of the most keenly awaited updates will be from HMV on Monday. The music chain has been struggling all year and is only still with us because it managed to persuade its banks to throw it an ever more slender looking lifeline. But no one is expecting great news, with forecasts of around an 8% fall in sales on the cards. The future is not looking rosy right now, and this could, sadly, turn out to be HMV's last Christmas in its current form.

A seventh year of falling UK music sales dealt another blow to the HMV share price on Tuesday, which closed down more than 3% despite speculation surrounding the sale of its live music arm.

The entertainment chain is struggling to service a debt pile of more than £160m after sales of CDs, DVDs and video games fell sharply last year. The uphill task faced by the last national music and DVD chain was spelled out in the latest figures from the BPI, which showed sales of albums on compact disc dropping 12.6% in 2011.

Last month HMV's boss, Simon Fox, said it needed to sell HMV Live, its most profitable business, which operates 20 venues and festivals, to raise cash. Sky News reported Peter Dubens, founder of Oakley Capital, was interested in making an offer for the business that HMV paid £60m for two years ago. The entrepreneur's interest did not prevent HMV's shares closing down 0.12p at 3.35p.

Interim Management Statement.

Christmas trading update

Ø HMV Retail like for like sales are down 8.2% for the 5 weeks to 31 December 2011, representing an improvement in performance from that announced with the interims on 17th December 2011.

Ø In the 144 stores refitted with an extended Technology range of portable digital products, technology like for like sales were up 51% in the 5 weeks to 31 December 2011, an improvement in the previously reported average of 42% since the respective store refit dates.

Strategic Review & Outlook

Ø The previously announced strategic review of HMV Live is continuing to make good progress

Ø As reported on 19 December 2011, the Interim Statements were prepared on a going concern basis. However, the economic environment and trading circumstances create material uncertainties which may cast doubt on the Group's ability to continue as a going concern in the future, and these uncertainties continue.

Ø The Directors continue to maintain regular discussions with the Group's banks and these discussions remain constructive and positive.


Commenting, Chief Executive Simon Fox 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. Undoubtedly trading conditions and the consumer environment remain challenging, but we remain confident in HMV's future prospects."

main item is the 8.2% reverse in sales - i see the technology like for like is up 51% but that is only over a 5 week period and what is that 51% in £££s i.e. actual value - as they did not mention the vaalue i would guess that 51% is 51% of not very much in real £££s value terms

other worry is as always they really are not a going concern as current business model which means perversely the sp should fly today!!! lol

gla

in the red where it should be after all then - makes a change for the sp to go where it ought to

Anybody still holding? only up 190% today still along way to go yet for me.

Incredible.

Quite spectacular.

Group update


HMV Group today announces that its banking syndicate has agreed to amend the covenant package on its existing borrowings. In particular, the banks have agreed to waive the January 2012 covenant test and to re-set tests relating to the 12 month periods ending April and July 2012 with significantly enhanced headroom.

The banking group has done this in response to a change in the nature of HMV's relationships
with its key music and film suppliers, which includes the intended grant of warrants representing 2.5% of its equity to these suppliers.

This will have a materially positive impact on the Group's profitability and cash flow such that if current trading patterns continue, we now expect, on the basis of our current plans, to be able to reduce the Group's net debt by approximately 50% over the next three years. This reduction in debt is before any assumed disposal proceeds from the ongoing review of the Live business.

For the year to 30 April 2012, HMV expects net debt to be £175-180m and in expectation of continuing challenging conditions believes it is now likely to deliver a slightly larger loss of around £10m for the full year.

Chief Executive Simon Fox said, "Today's announcement is enormously welcome. These developments represent a material improvement in our financial position relative to the statement we made at the time of our Interim results. The new relationship with our suppliers and the support of our banks will now enable HMV to wholeheartedly focus all of its energies - working in close partnership with its suppliers, on serving the changing needs of its customers ever more effectively. As a key part of this we remain committed to improving our specialist ranging and merchandising of music and DVD whilst also continuing to grow our sales in portable technology and further developing our online and digital offers."

David Joseph, Chairman and CEO of Universal Music UK said, "HMV is a vital part of the UK music industry and we are delighted that the support of the film studios and music companies is helping to secure its future. We look forward to working closely with HMV in the years ahead."