Is this the end for HMV?

[Dave2002]

I noticed that the HMV share price has now dipped below 2p. Is this the end?

[Thropplenoggin]

I noticed that the HMV share price has now dipped below 2p. Is this the end?

BUY! BUY! BUY!

[gradus]

I think they posted a loss of £36m and have already flogged the family silver, let's hope that Christmas helped.

[Ferretfancy]

I visited the Oxford Street store yesterday in order to buy the Andrew Davis set of Vaughan Williams Symphonies which was a pre Christmas bargain at £10, only to find that in the sale it now costs £12 ! Still a bargain, it's true. There was absolutely nothing new in the sale, just the stuff that has been going cheap for ages. The ground floor was heaving with customers, but downstairs in Classical it was practically deserted.

I now have such a large collection that I'm seriously considering a halt to more buying, at least for a while. I've been neglecting reading opportunities and intend to get through more books in future and try to supress my collecting instincts !

[VodkaDilc]

The Oxford store was heaving just before Christmas. Huge queues for DVDs; can't really comment on the custom in the Classical section, since it's now so small that it shares a checkout with other departments. I really hope HMV survives.

[Paul Sherratt]

HMV has no chance of surviving.
As mentioned somewhere else, the foolish management has a policy of high-volume playing of
music that alienates most of the population ... I mean, it's quite nice to be able to hear yourself think.

The poor staff have no say in the matter.

I'd estimate that around twenty of the four thousand or so albums in this house were bought in that store
and most of those only because of a need to get some Capital Bonds spent !

[teamsaint]

Waterstones was actually trading at a modest profit before it was flogged by the group.
HMV's only hope is that another moneybags can be found to rescue it.

[cloughie]

Waterstones was actually trading at a modest profit before it was flogged by the group.
HMV's only hope is that another moneybags can be found to rescue it.

That didn't help Comet! I hope HMV survives as in many towns now it, for all its noise and shortcomings is the only CD outlet left, and I need somewhere to go to avoid other shops when out with Mrs C.

[Eine Alpensinfonie]

HMV has no chance of surviving.
As mentioned somewhere else, the foolish management has a policy of high-volume playing of
music that alienates most of the population ... I mean, it's quite nice to be able to hear yourself think.

All absolutely true, sadly. If ever a company signed its own death warrant, this was it.

[scottycelt]

HMV has no chance of surviving.
As mentioned somewhere else, the foolish management has a policy of high-volume playing of
music that alienates most of the population ... I mean, it's quite nice to be able to hear yourself think.

The poor staff have no say in the matter.

I'd estimate that around twenty of the four thousand or so albums in this house were bought in that store
and most of those only because of a need to get some Capital Bonds spent !

Yup ... foolish management, which thinks trendy gimmicks and no doubt regular employee rollickings will fix things ... poor staff, who have to take all the regular management rollickings (alongside low pay) and complaints from customers, and are also well aware that their very jobs are in peril and yet have absolutely no say in the matter as to how to try and improve things ... all rings so very true, doesn't it?

The only way that HMV might possibly survive is by completely diversifying its product range which in itself means it is never going to be what it once was ever again.

To be fair, the company has also been the clear victim of changing trends, but it was very slow to see the writing on the wall with the emergence of online companies like Amazon, and such companies, which ignore the realities of a fast-changing retail environment, simply go to the wall.

Sadly, I fear it's now probably too late for HMV. If the worst happens, all my sympathy will be with the poor, blameless staff hunting for new jobs in the current climate.

[MrGongGong]

I think the truth of this is that you can't run a business in a physical shop selling things to a smaller niche of people when the same things are available for half the price online.....

The market for Classical music and Jazz is so small compared to chart music etc (as is the market for Death Metal, Electronica and Folk musics etc etc) that if you have a big shop you need to shift units in vast quantities.......

[ferneyhoughgeliebte]

Sadly, I fear it's now probably too late for HMV. If the worst happens, all my sympathy will be with the poor, blameless staff hunting for new jobs in the current climate.

Absolutely agree, scotty: whenever I've been in the Leeds branch, the service provided has always been excellent - courteous and helpful.

[Dave2002]

I noticed that the HMV share price has now dipped below 2p. Is this the end?

|I just saw that there was a spike in the share prices around 10th-15th December - http://uk.finance.yahoo.com/echarts?...rce=undefined;

Pity I missed it!

Thropplenoggin: Not sure why you're so enthusiastic! I couldn't recommend a buy myself - except for dedicated and possibly foolish investors. However, at a price below 2p/share, even a moderate rise could just about cover the buying/selling costs. For example, if the price goes from 1.97p (current) to 2.2p, that's over 10%, so £200 "invested" would return around £220. Minus dealing fees (both buying and selling) and stamp duty and one might just break even!

I think one would have to "invest" £500 to make a modest quick profit, with a fairly significant chance of losing all the money.

[gurnemanz]

I made a comment on the Bargains thread a few weeks ago

[Il Grande Inquisitor]

Well, to no great surprise, HMV is expected to appoint Deloittes as administrators tomorrow. The writing has been on the wall for years - their high street retail trade just failed to compete with internet downloads and online purchasing, such as Amazon and even its own website; it seemed incredulous that a new released offered at £8.99 on the HMV website was retailing for £15.99 in stores. Why would anyone pay the extra to purchase in-store?

I loved exploring the world of classical music through the department in the Oxford Circus branch, but in recent years the only thing which attracted me in was to see what bargain boxes they had on offer.