HMV posts £38.6m pre-tax loss
HMV Group has posted a pre-tax loss of £38.6m in the 12 months ending in April, compared to a flat figure the year before.
Overall like-for-like sales were down 12.1%, as physical music value fell 19%.
HMV confirmed an annual loss of £16.2m this morning, which increases to £38.6m with the addition of exceptional items, including operating and finance costs.
Restructuring costs totalled £11.1m, which included job cuts.
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