SOURCE: hmv Canada

hmv Canada

January 16, 2015 06:00 ET

hmv Canada Hits All the Right Notes With Strong 2014 Holiday Sales Results

With Same Stores Sales up 4.2% Year Over Year, hmv Canada Delivers Its Best Holiday Sales Results

TORONTO, ON--(Marketwired - January 16, 2015) - hmv Canada, the country's premiere retail destination for music and entertainment has delivered one of its best holiday sales results in a decade. Total sales achieved in the five week trading period were $55.2 million with same stores results increasing by 4.2% year over year.

Notably, sales of CDs increased by 2% overall as the demand for both physical CDs and Vinyl recordings (+60%) proved as viable gifting options. The growth of new product categories such as licensed t-shirts and apparel (+110% ), collectibles (+40%), headphones & accessories (+25%) and licensed merchandise (+90%) all combined to provide consumers a compelling one stop offering for new and exciting gift ideas.

"I am delighted that we are still on track with our plans to further develop our product offering," said Nick Williams, President and CEO, hmv Canada. "2014 offered another year of change and growth for hmv Canada and we have much to be thankful for as we evolve our in-store and online offerings to accommodate our customers ever changing needs. I think that our results this year speak for themselves but prove that when you listen to your customers and create an offer that both embraces change but continues to be true to what you are, it allows for evolution and growth to take place."

In addition, major developments at hmv Canada in 2014 included the return of a new store format at a prime location on Robson Street in Vancouver. hmv Canada's rewards program, pure, grew to 1.7 million members and introduced a new transactional website, while returned to e-commerce with a revamped website. Plus brand new live venue spaces were created in both the Toronto and Vancouver stores, helping fans get closer to the artists and talent they love. 

hmv Canada also announced the finalization of a new $30 million banking facility with BMO through to 2017. "A real vote of confidence from a truly Solid Canadian institution," said Harvey Berkley, CFO, hmv Canada.

About hmv Canada
hmv Canada's first store opened in 1986, from which it has grown to become a Canadian entertainment market leader with 110 stores from Newfoundland to British Columbia, including flagship locations in Toronto, Edmonton, and Montreal. hmv Canada is an innovator in its market, launching in 2009 its digital music store, in 2010, the pure customer rewards program, which has attracted over 1.7 million paid cardholders. hmv has been named Canadian Music Retailer of the Year for the past 22 years, and has also been recognized as the Canadian Entertainment Network DVD Retailer of the Year. In July 2011, Re:Capital Canada, a subsidiary of Hilco Capital, acquired hmv Canada from the UK's HMV Group plc.

Contact Information

  • For more information:
    hmv Canada
    Elyssa Macri
    416.620.6618 ext. 716