Profit warnings
I see there has been a slew of warnings from retailers after the bad weather at Christmas. Haven't looked at the sector properly but I sense some of the discounting of the news may end up as an over-reaction in the market.
I read a report into the music industry over Christmas and it's amazing to see the decline in pre-recorded sales since the advent of the MP3 file!! HMV appears to be a definite case of a structural decline.
When I was young I remember making trips to HMV in Oxford street just so I could buy back catalogue stuff there that wasn't sold elsewhere.
When I was young I remember making trips to HMV in Oxford street just so I could buy back catalogue stuff there that wasn't sold elsewhere.