As HMV fails, how can other retailers avoid a similar fate?
The failure of HMV [IRDX RHMV], announced today, will come as a surprise to few. The question that some retailers will be asking today is how they can avoid the same fate. That’s the question that Internet Retailing put to retail analysts Conlumino this morning. Get the full story on HMV’s move to call in the administrators in our stories below.
In today’s newsletter we also report on Christmas trading updates from multichannel and online retailers including Hobbs, Ocado, Halfords, Hobbs and Mobile Fun. Find out more in our stories below.
End of an era as HMV calls in the administrators
Why did HMV fail – and how can other retailers avoid the same fate? Conlumino interview
Ocado sales grow at double-digit pace over Christmas
More than 10% of Halfords sales now made online
Digital sales help Burberry to 9% revenue increase
Hobbs reports 60% online boost at Christmas
Mobile Fun celebrates record Christmas
Mentioned in this piece…
HMV.com
HMV Group is the UK’s leading specialist retailer of filmed entertainment, games, music and portable digital technology products, with a portfolio of live entertainment venues and music festivals.
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Frightening – another retail institution is lost
should we bother?
the main factors of influence are:
XS retail floor space
XS debt on the balance sheet – banks finally putting in the kznackers
XSive rents and adverse lease terms
so:
‘pre-pack’ the administration – phone the landlords and tell ‘em how delighted HMV (nth reincarnation) is to pay half the previous rent on short leases with break clauses
but who would be daft enough to refinance the debt?
the sole benefit to consumers is that it might cut prices a bit, but terrestial retailers have an intrinsic price disadvantage – so will it be a case of ‘Play it again – HMV’?