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HMV - another busted flush on the High Street

Geoff Riley

6th January 2011

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HMV has struggled to cope with fierce competition from online retailers and the supermarkets and a disappointing Christmas sales season has accentuated the problems facing a business that has occupied a place in hundreds of towns across the UK for many years. They are desperately trying to cut costs and have introduced a store-closing programme but will this be enough? My own experience in Harrogate this holiday season was one of continued disappointment. Three times I went into the store for separate items and three times I left empty-handed .... but my shopping companions simply shrugged their shoulders and suggested we order direct off Amazon via our mobile phones on the way home. HMV is a tired retail concept (much the same can be said of the staid Waterstones bookselling arm) and has the distinct whiff of Woolworths about it. 2011 might be the end.

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.