HMV suffered a year-on-year sales decline of 11.6% amongst its retail stores in the 20 weeks to September 15.
In an interim management statement this morning, the firm revealed that revenues had dipped 14.8% across the entire HMV Group in the period - which included the impact of announced store closures.
The firm said that sales of portable digital technology devices, products and services continued to grow strongly, 'driven by the programme of store refits and the continuing evolution and development of our in-store service proposition'.
It admitted that 'as anticipated the summer has seen a very quiet new release schedule in the Group's core music, visual and games markets and, whilst the Group has increased share in these markets, it has continued to experience significant market value declines'.
The Group completed the disposal of the Hammersmith Apollo for £32m, which enabled it to successfully amend the terms of the existing £220m Bank Facility with the existing lenders and extend the Facility by a further year to September 2014. The strategic review of the remaining HMV Live business was said to be 'ongoing'.
Trevor Moore, Chief Executive, said: "These numbers reflect the challenging markets in which we operate. However, the like for like decline was less marked towards the end of the period and we should be helped in the remainder of the year by a strong pipeline of new releases in the music, DVD and games markets ahead of Christmas."
The Group posted a £38.6m pre-tax loss in the 12 months ending April, alongside a 12.1% sales decline.
Moore replaced previous CEO Simon Fox in August.
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