The HMV Group's decision to refocus its business on the sale of technology products is beginning to pay off, the loss-making music retailer has claimed.
During the five-week Christmas trading period, like-for-like sales were down by 8.1 per cent, as HMV continues to battle against the fall in demand for CDs and DVDs.
However, like-for-like sales boomed 51 per cent at the 144 stores that have been refitted to carry technology product lines, including tablet devices, MP3 players and accessories.
In an interim management statement, the firm said the decline in sales for some of its more traditional products is starting to ease.
"The continuing actions to focus the business and extend our technology offerings are beginning to show through," said the group's chief executive, Simon Fox.
"We are seeing a combination of a slowing of the decline in music and film, and acceleration in the growth of technology. Undoubtedly, trading conditions and the consumer environment remain challenging, but we remain confident in HMV's future prospects."
The retailer has repeatedly talked up its technology aspirations in a series of trading statements over the past year, as it looks for ways to make up the shortfall in demand for music and film products.
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