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HMV is closing the gap with Amazon in the UK
What a difference three years makes. HMV, a company that was teetering on the edge of closure three and a half years ago, has pushed past Tesco to become the UK's second biggest entertainment retailer behind Amazon. The company recorded a 2 percent rise in sales of CDs, DVDs and video games in the three months up to April 10th, giving it a 16.9 percent share of its domestic market versus Tesco's 16.1 percent and Amazon's 22 percent -- its best showing since it re-emerged from administration in January 2013.
HMV overtakes Amazon to become the UK's biggest seller of physical music
Two years ago, British high-street retailer HMV was staring bankruptcy in the face. It was subsequently picked up by administration specialist Hilco, which immediately set about reversing the company's fortunes. As a result of cost-cutting measures, HMV was forced to sell its iconic Oxford Street store and place a renewed focus on what made it popular: selling music. It certainly seems like it's paid off, because the company has just reclaimed the number one spot as the UK's biggest seller of physical music, overtaking Amazon in the process. CityAM reports that the company's vinyl sales reached their highest level in over 20 years, jumping 170 percent over the past year. And in the two weeks leading up to Christmas, it was responsible for selling one in every three CDs and DVDs in the UK.
Apple pulls HMV music app after realizing it approved a competing music store
We were so pleased for legacy UK music store HMV, when it turned up with a new iOS app last week. It seems Apple was a little bit over-excited too, having apparently mashed the approve button without really realizing what it was doing. HMV was selling music downloads via the new app, a massive conflict of interest for Apple, and a big no-no in relation to its Ts & Cs. According to HMV Chairman Paul McGowan, Cupertino gave HMV Music the nod on September 15th, but once it noticed the gaffe, only gave the UK retailer until 6pm yesterday to remove the offending feature. Of course, this was too short notice, and as such the app has been pulled. The Guardian reports that the official word from Apple is that the app violated a clause that prevents selling of goods or services outside of the app -- an experience the official press release described as "native" despite sending you off to an external site. Back to the developing board for HMV, we guess.
HMV finally understands this 'internet' thing, launches UK music store app
Having filed for bankruptcy and successfully avoided closure just a week later, British high street retailer HMV is hoping a new digital storefront will help it keep the wolves from its door. Under the leadership of Hilco, the retail restructuring business that previously picked up Polaroid's brand, the company today launched a new music store for iOS and Android devices. The apps let smartphone owners listen to or buy tracks by scanning images of CD albums and posters, or by tagging audio tracks thanks to Soundhound's music discovery algorithms. Amazon may have helped put HMV out of business, but the big purple retailer has got one up on Amazon's Cloud Player with some of these features. The company doesn't plan to stop there either: it'll soon integrate its store into a revamped website, letting everyone else get a piece of the action.
Hilco completes HMV acquisition, 25 stores saved from closure
Restructuring firm Hilco announced its procurement of UK high street retailer HMV from administrators Deloitte. Following protracted negotiations across the last few months, Hilco finalized the acquisition this morning, and in doing so ensured 25 stores previously earmarked for closure are to remain open.HMV, one of the UK's most prominent high street sellers of games, effectively declared itself bankrupt by entering administration earlier this year. Hilco took on the retailer's debt, while Deloitte announced closures for almost half its outlets, with nearly 1,500 people laid off as a result. Today's news means HMV retains 141 stores and some 2,500 employees.
Blockbuster UK finds buyer
Restructuring and investment firm Gordon Brothers Europe bought Blockbuster UK over the weekend. The multimedia rental and sales chain entered administration in January, a month which also saw Blockbuster's US arm close a further 300 stores. Gordon Brothers Europe acquired the retailer's 264 UK stores, with the BBC reporting 2000 jobs may be saved as a result. How much the sale cost remains undisclosed.With GAME's troubles of last year, the demises of Blockbuster and HMV left UK high street games retail with worryingly threadbare prospects. The administration process leaves Blockbuster with just over half of the 500 stores it had before, while HMV's high street presence is facing a similar level of cutback. However, both the Telegraph and the Financial Times are reporting restructuring specialist Hilco is close to securing a deal to buy HMV, having taken control of the retail chain's debt.
Wii U Premium bundle with ZombiU down to £200 at participating HMV locations
British retailer HMV is the latest outlet across the pond to drop the Wii U's price, lowering the console's Premium SKU and ZombiU bundle down to just £199.99 at participating locations. On its own, the Premium SKU typically retails for £299.99, and that's without ZombiU thrown in for good measure.HMV did not clarify to Joystiq whether this price reduction is temporary or permanent, so if you're British and in the market for the Wii U that's worth owning, now may be the right time.
HMV closing 37 more stores, 464 layoffs
The deluge of bad news isn't over for UK retailer HMV, with 37 more stores confirmed to be closing in addition to the 66 announced earlier this month. These further closures are resulting in 464 lost jobs, making a post-administrative total of at least 1,454 layoffs.HMV, one of the UK's most prominent high street sellers of games, went into administration last month after failing to acquire $483 million to finance debts. Restructuring company Hilco then took on the retailer's debt. This latest round of store closures means HMV's UK high street arm will be cut by almost half to 116 stores in four to six weeks' time.
HMV facing 66 store closures, 930 layoffs
HMV, a multimedia chain and one of the UK's top high street game retailers, is closing 66 of its 220 stores, with 930 employees losing their jobs as a result. Deloitte, the company's administrators, said the closures should occur within the next one to two months."This step has been taken in order to enhance the prospects of securing the business' future as a going concern," said Joint Administrator Nick Edwards. "We continue to receive strong support from staff and are extremely grateful to them for their commitment during an understandably difficult period. All other key stakeholders remain very supportive and I continue to be hopeful of securing a future for the restructured business."HMV also posted a statement on its Facebook page this morning, echoing Deloitte by saying the closures give the retailer the best chance possible of a viable future on the high street: "As you may be aware, a number of our stores in the UK have been earmarked for closure. This decision has not been taken lightly and, though very sad and regrettable, it is necessary to give HMV the best possible chance of emerging from administration and having a future on the high street. We'd like to acknowledge the invaluable contribution of affected colleagues, who continue to work with great passion and dedication, and this decision in no way reflects on their considerable efforts on behalf of HMV. We also sincerely thank our customers in these locations for their valued support over many years, who we hope will continue to shop at HMV." HMV entered administration in January after failing to secure $483 million for debt financing. Hilco, a British restructuring company, subsequently took on the debt and is expected to take over the company. HMV's struggles have headlined a tough 2013 so far for British games retail, with Play.com closing its retail operations and Blockbuster UK also entering administration.
Report: HMV to be saved as restructurer Hilco acquires debt
Business restructuring company Hilco is set to acquire HMV after reportedly taking control of the struggling British retailer's debt . According to the Financial Times, people familiar with the situation report Hilco took on the debt today, estimated three months ago to be around $279 million. If the reports are accurate, Hilco, already appointed yesterday as advisors to administrators Deloitte, have effective control of the ailing company.HMV went into administration last week after failing to secure $483 million in additional financing against debt, leaving the company in need of a buyer, with around 4350 jobs in the balance. HMV's troubles headline a sorry month for British game retail after Play.com announced the closure of its retail arm, and Blockbuster UK also went bust, with 160 of its stores being closed as it too seeks a buyer.
HMV Canada owner takes control of HMV UK in attempt to rescue troubled chain
HMV's 91-year long tenure on the British high street might not be coming to an end after all, as HMV Canada's owner has mounted a rescue attempt. The rescuer in this instance is Hilco, which previously picked up Polaroid's brand and paired it with famous insolvency specialist Lady Gaga. BBC News is reporting that Hilco scored a cut-price rate on the £176 million ($278.8 million) corporate debt and has already received cheering words from the film and music industry. After a bout of uncertainty, HMV has also said it'll once again accept gift cards in its stores. [Image credit: London Express / Getty Images]
HMV goes bankrupt after 91 years in the disc-selling business
The first time we mentioned HMV on Engadget was back in 2009, when the British retailer discounted the PSP Go -- ironically, one of the earliest devices to do away with disc-shaped media. As the picture above shows though, HMV's history goes back much further than that. Its first store opened in 1921 under an elaborate neon sign featuring the company's emblem of a dog listening to a gramophone beneath the words "His Master's Voice." Fast forward to today and the old-school seller has suffered gravely from the same online shift that has affected many others. It has called in administrators after failing to negotiate new terms over its bank debt, and unless a buyer steps up to take over the chain's 240 stores then as many as 4,350 people will be let go. According to Metro, the many HMV gift vouchers that would have been given and received over Christmas are now effectively "worthless." On the other hand, the British personal finance guru Martin Lewis reckons gift vouchers shouldn't be thrown away as they may be redeemable one day, or there may be a chargeback option if they were purchased with a credit card. [Image credit: London Express / Getty Images]
HMV entering administration [update]
Update: HMV confirmed it's filing notice to appoint Deloitte as administrators to the company. As the BBC reports, HMV is suspending trading on the London Stock Exchange from Tuesday, January 15. HMV's 239 stores across the UK and Republic of Ireland are to remain open while Deloitte seeks a purchaser. If a new buyer isn't found, around 4350 people will lose their jobs.UK retailer HMV will reportedly enter administration (i.e. bankruptcy), after it was unable to obtain £300 million ($483M) in additional financing against debt. The Financial Times and Channel 4 both report the struggling brick and mortar franchise will announce the news tomorrow morning, making it the latest casualty to affect the UK games retail market.Other prominent game retail victims in recent times include Play.com, which will alter its operation by March. Then there's the saga of GAME, which has also struggled and dealt with bankruptcy.GameStop removed itself from the UK retail market in early 2012 to become an "e-commerce only operation."
Halo 4 pre-order goods plant their flag in select retailers
In the old days, we used to just toss our cash upward into the wind, wait 3-5 business days, then find a game waiting on our doorstep. Today, retailers compete for your gaming dollars with pre-order incentives, and Halo 4 is the latest to play into that retail shuffle.Depending on the retailer you hitch your Warthog to, you'll snag some very different things: Amazon will offer a golden "web" skin for use in multiplayer and a pair of exclusive emblems, while GameStop will offer the customizable "forest" skin for multiplayer. UK retailer GAME is tossing in the blue circuit armor skin, an arctic weapon skin and six specializations – these are further cosmetic tweaks to help you stand out from the rest of the cybernetic crowd.Other specific UK retailers have their pre-order items listed past the break, like Blockbuster (you guys still have those over there?). And if you're really looking to buy everything with Halo 4 printed on it, the soundtrack and special editions are also tempting offers.Halo 4 launches on November 6 worldwide, exclusively for the Xbox 360.
Beats Pill Bluetooth speaker spotted at FCC and HMV: take one and call Dr. Dre in the morning
The Beats by Dr. Dre badge has usually been attached to headphones and the occasional laptop or smartphone. We've never really seen it attached to dedicated speakers, however, and that's where both an FCC filing and a sighting at UK retailer HMV's online store raise a few eyebrows. The House that Dre Built appears on the edge of launching the Beats Pill, a Bluetooth wireless speaker with four drivers and a shape that more than explains the medicinal name. While we don't know just how much of that signature Beats thump we'll get, we do know from the FCC that the Pill can serve as a speakerphone, carries an aux-in jack and will last for a typical 8.5 hours on its USB-rechargeable lithium-ion battery. There's also signs of a red version of Beats' Mixr headphones coming at the same time. HMV has publicly scoured its pages of any trace of a ship date or price for the Pill, but cached copies point to a £170 ($276) price and a release around September 28th -- not necessarily trustworthy figures, but they may be in the ballpark. Our only question is whether or not we'll get a dose of the Pill in the US. [Thanks, Germaine]
UK game industry holiday snapshot suggests weakening retail sales
Two major UK video-game retailers, HMV and Game, saw a drop in sales over Christmas, prompting HMV to reconsider its investment in games as a whole, The Telegraph reports. HMV's gaming market share fell 16 percent over the holidays, while sales in music and DVDs saw no change; games now account for 20 percent of HMV's sales. Chief Executive Simon Fox said HMV may focus only on AAA titles in the future. Game's Christmas retail sales were down 15 percent, while year-on-year it lost 13 percent in sales, GamesIndustry.biz says. Online sales rose 4 percent, and sales for the year ending January 2012 dropped 12 percent, less than the UK gaming market's total loss of 13 percent. Game recently closed 39 stores and is expected to have 550 in the UK by 2013, GamesIndustry notes. CEO Ian Shepherd is banking on the Wii U and PS Vita to revitalize sales in 2012.
Game retailers go back and forth on Resident Evil: Mercenaries 3D sales policies
Used games retailers across the globe have adopted a number of uncharacteristic policies regarding sales and trade-ins of Capcom's one-save-only title, Resident Evil: The Mercenaries 3D. When news of the game's unrestartability first surfaced, North American Gamestops announced they would not accept the game as a trade-in -- a policy which reversed today. Speaking to IGN, a Gamestop rep explained, "GameStop did ask the U.S. store base to stop accepting trades on Resident Evil: The Mercenaries 3D as we evaluated the save system for the game." The representative added, "Upon further review of the process with our publisher partner, Capcom, GameStop will resume taking trades on the game effective Wednesday, June 29." Overseas, British retailer HMV has ceased taking trades for the title -- and EB Games Australia has apparently stopped stocking the game altogether. A representative on the EB Games Facebook group explained, "If you would like to purchase it with us then of course we will sell it to you, it will be a case of an order with our store." They added, "We made the tough decision to remove it from sale because we have everybody's best interests in mind, and don't feel its fair that you guys would be paying $60 for what is essentially a one use game."
Retailers shoot down claims of 3DS returns prompted by headaches
A report in tabloid The Sun of the 3DS making headaches in "thousands" of users is just plain untrue according to Nintendo, HMV and GAME, the three entities the paper mentions. Nintendo said returns are "well below" other hardware launches and GAME says less than five people have complained that the portable made them ill. In fact, you can't even return something in the UK because it made you sick. HMV admits some 3DS systems have been traded in for store credit, but stops short of copping to "thousands." Sheesh, what is this world coming to when you can't even trust the tabloids?
Elonex 710EB color e-reader gets cheeky price bump, available for pre-order
Good golly, not another e-reader! Well, for once the Brits may actually be getting something rather affordable here -- we were promised a £99 ($152) price point when Elonex announced its 710EB e-reader back in April. Sadly, this 7-inch 800 x 480 color LCD device never materialized in mid-May, but a quick phone call to Elonex just now revealed a new launch date in early August. Before you cast your doubts, this is also semi-confirmed by the availability date on HMV's pre-order page -- we're just slightly mystified by the slight price bump to £119.99 ($184). Either way, here's hoping that we actually see something before the autumn rain keeps us indoor.
Retailer reveals three Wii Party minigames
Retailer HMV has listed descriptions for three of the minigames in Nintendo's upcoming Wii Party. It turns out that when Iwata said the "Living Party" mode involved "unique game play only available with the Wii Remote," it was referring to the Wiimote's ability to generate sounds. These three minigames all involve sounds coming from the Wiimote. "Wan Wan Card Game" plays animal sounds, and asks players to identify which on-screen animal makes the sound. Remote Control Hide and Seek has one player hide the Wiimote, and other players find it by listening to the sounds it emits. "Sensitive Bomb" tasks players with passing the Wiimote around. If it is jostled too much, it explodes! Or, at least, probably plays an "explosion" sound effect. According to Nintendo's release calendar, Wii Party will be out in Japan on July 8. That means it's definitely complete enough for Nintendo of America to show it at E3. [Via Siliconera]
