HMV set to reveal decline in sales - The Press Association

(UKPA) – 5 hours ago 

HMV is expected to reveal an 8% like-for-like decline in sales for the period on January 9.

Elsewhere on the high street, Home Retail is forecast to reveal an 8% same-store decline at Argos on January 12 and Mothercare may reveal a 9.2% drop on the same day.

The pressure on the retail sector is not set to alleviate anytime soon, as shoppers are forecast to slash nearly £1 billion from spending on non-essential goods such as electrical items, furniture and carpets next year.

Retail sales are expected to grow by just 1.2% to £295.3 billion in 2012 - their third slowest year of growth in the past four decades - spelling more pain for the sector, according to a report by leading retail research firm Verdict.

The dates of trading updates confirmed by retailers so far are - Domino's Pizza and Next on January 4; Clinton Cards on January 5; HMV and Morrisons on January 9; Debenhams, Dunelm, Marks & Spencer and Topps Tiles on January 10; Game, N Brown, Sainsbury's and SuperGroup on January 11, and Halfords, Home Retail (Argos, Homebase), JD Sports Fashion, Mothercare, Tesco and Thorntons on January 12.

Later in the month will see updates by Burberry and Dixons Retail (PC World, Currys) on January 17; JD Wetherspoon on January 18, and Associated British Foods (Primark) and ASOS on January 19.

In addition, the Office for National Statistics will publish retail sales figures for October on January 20 and WH Smith will hold its AGM on January 25.

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