How much trouble is HMV in? - HotUKDeals
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How much trouble is HMV in?

golemsmate Avatar
5y, 10m agoPosted 5 years, 10 months ago
Just a few days before christmas a new HMV opened in newcastle under Lyme, under a month of trading and theyve shut it down?!

Surely it would make good business sense to keep it open a while to see how it goes! The store looked really neat too! Well gutted.
Other Links From HMV :
golemsmate Avatar
5y, 10m agoPosted 5 years, 10 months ago
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banned#1
Over Christmas hmv opened a second store in meadow hall. I assume it's gonna close as well, but I think it was only meant to stay open over Christmas. Maybe yours was the same?

They are in a mess though
#2
Ahh good call VB1! Never knew that was their intention. Shocking they can profit. It was properly furnished like a proper store too.

Oh well! Thanks :)

EDIT: just saw this, guess it wasn't too successful after all.

"While the current plan is to keep the shop open until January, HMV says that if it is successful it may become a permanent presence in the High Street."


Edited By: golemsmate on Jan 18, 2011 23:58
#3
I see it as they are suffering from instore prices VS the Internet. More and more people buying online due to price savings. Brick and mortar stores just don't compete any more and they seem like they are not willing to change to become competitive once again.
2 Likes #4
The "problem" is the legal loophole of online retailers supplying from Jersey/Guernsey and thus avoiding taxes.

High Street stores will continue to disappear all the while this loophole remains open.

More info here and all over the net.
#5
its the expense in hmv everytime i go in there looking to find a good deal its always way over priced dj hero one was like £60 instore standard edition yet 50 yards further and gamestation have it miles cheaper
#6
http://www.guardian.co.uk/business/2011/jan/18/hmv-distributors-credit-insurance?CMP=twt_fd

In answer to the title of the op, by the looks of it very big trouble.
suspended#7
HMV are in a mess because their customer service is one of the worst I have ever experienced, and they are expensive!
#8
hottoshop
The "problem" is the legal loophole of online retailers supplying from Jersey/Guernsey and thus avoiding taxes.

High Street stores will continue to disappear all the while this loophole remains open.

More info here and all over the net.
yeh but doesn't HMVs online shop do just that?
#9
Niz
hottoshop
The "problem" is the legal loophole of online retailers supplying from Jersey/Guernsey and thus avoiding taxes.

High Street stores will continue to disappear all the while this loophole remains open.

More info here and all over the net.
yeh but doesn't HMVs online shop do just that?


Yes and more likely it will be the only profitable part of the business at present.
suspended#10
teraomi
I see it as they are suffering from instore prices VS the Internet. More and more people buying online due to price savings. Brick and mortar stores just don't compete any more and they seem like they are not willing to change to become competitive once again.


There is a lot of brick and mortar stores that do fine, argos for one example.

Their instore prices on basic household goods are second to none!
#11
jonny619447
teraomi
I see it as they are suffering from instore prices VS the Internet. More and more people buying online due to price savings. Brick and mortar stores just don't compete any more and they seem like they are not willing to change to become competitive once again.


There is a lot of brick and mortar stores that do fine, argos for one example.

Their instore prices on basic household goods are second to none!


To be truthful I'm not sure Argos stores ARE actually doing that well, they suffered a 12% decrease in operating profits last year.
#12
^^. There are shops that are doing OK. Argos can rely on the huge catalogue of multiple choices of items for almost every customer. A shop like HMV has to rely on the smaller market (when comparing to a big shop like Argos) of media .

I think to survive in the changing markets shops, businesses and producers need to sell items for a more competitive price. May get them less money per item but over all they would see more traffic. They simply cant continue to have a large amount of items stupidly overpriced VS other shops and hope that people will not shop around.
suspended#13
hottoshop
jonny619447
teraomi
I see it as they are suffering from instore prices VS the Internet. More and more people buying online due to price savings. Brick and mortar stores just don't compete any more and they seem like they are not willing to change to become competitive once again.


There is a lot of brick and mortar stores that do fine, argos for one example.

Their instore prices on basic household goods are second to none!


To be truthful I'm not sure Argos stores ARE actually doing that well, they suffered a 12% decrease in operating profits last year.


Whether or not they had decreasing profits, we are always going to need argos. They are just so useful in terms of their product range
#14
You often get short term shops. I shop fitted an additional clinton cards in Guilford for halloween, was only open 13 days.
#15
I got 125 in vouchers should I use them now.? or .....
also loads of pure points...
banned#16
We had a temporary HMV open up for Christmas too, the permanent one is remaining open still... for now...
#17
zerowing
I got 125 in vouchers should I use them now.? or .....
also loads of pure points...


the store will be around for some time yet.

pure points can only be used online anyway!
banned#18
The one in NUL was on a short lease i believe
#19
For me the problem with HMV is that they just don't have a good enough choice of stock instore. Liverpool has two HMV stores in the city centre, and yet when I go into either of them I struggle to find the albums I'm after. If you're after anything that isn't in the chart then you don't stand a chance of getting it, even for massive artists such as the Rolling Stones.

They no longer cater for real music lovers. Instead they stock a few best of albums and the usual chart rubbish, plus a dvd section that isn't great either. All of this is better provided by online retailers. If they want to survive I would advise that they return to being the store for music lovers, a lot of people are willing to spend money on music

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