10th December 2010
As mcturra2000 comments on The Motley Fool community boards :
"You can repaint the Titanic, but that still won't stop it from sinking."
Announcing the results, Simon Fox, the embattled chief executive of HMV Group described trading conditions as "extremely difficult". Total sales for the period saw sales of physical CDs and DVDs down 10% and 8% respectively, compared to the same period last year.
Keith Bowman, an analyst at stockbroker Hargreaves Lansdown, speaking to The Guardian would seem to agree with mcturra2000's candid assessment of the fate of HMV.
"These results do little to ease fears that HMV is slowly being consigned to the history books," he says.
And so presumably would shareholders in the beleaguered retailer who have seen their holdings in the group lose two-thirds of their value this year.