S
samsonyuen
Guest
Wow, that's a lot of new HMVs! No one wonder Tower and Virgin are scared. I can't see why Sunrise or Music World don't try to open up a store in the PATH (outside of Yonge & Dundas/Eaton Centre).
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O
Ontarian1976
Guest
Strange too considering all the music people get off the internet now, as well as all the music Walmart sells.
J
jayomatic
Guest
They really need to expand to a larger location at the FCP. Hopefully the new one at the TD centre will be bigger because the current HMV is usually packed. Its like trying to get a drink at the bar most times. Packed!
E
Ed007Toronto
Guest
Strange too considering all the music people get off the internet now, as well as all the music Walmart sells.
Half of HMV's sales today are DVDs. The internet hasn't impacted here too much yet (though Walmart has).
O
Ontarian1976
Guest
My point about the internet and CDs, is that with file downloading, CD sales have declined, not that many CDs are being sold on the internet.
E
Ed007Toronto
Guest
Any my point was that HMV has minimized the impact of the decline in CD sales by expanding heavily into DVD's.
D
Darkstar416
Guest
CD sales are actually on the rise again, and I may be off a bit, but last year was the best year for CD sales in Canada since 2000. And yes, DVD sales (which now represent half of HMV's sales and floorspace) have helped to mitigate losses on the music side of things.My point about the internet and CDs, is that with file downloading, CD sales have declined, not that many CDs are being sold on the internet.
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samsonyuen
Guest
^Really? I wonder what's caused CD sales to rise?
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Ed007Toronto
Guest
The downturn came for a number of reasons. People had finally replaced all their vinyl and cassettes, the boybands disappeared, the economic downturn and downloading to a certain extent.
The reason for the slight upturn. The economy improved and the major labels also cut prices on most of their new CDs. Maybe a couple of better selling records as well.
The reason for the slight upturn. The economy improved and the major labels also cut prices on most of their new CDs. Maybe a couple of better selling records as well.
E
Ed007Toronto
Guest
BILLBOARD
September 17, 2005
HMV EXPANDS IN CANADA, RETURNS TO DOWNTOWN VANCOUVER
BY LARRY LEBLANC
TORONTO - With 10 stores opening in its 2006 fiscal year, HMV Group is
bullish about Canada.
HMV Canada, which has 107 existing stores, accounts for a market-leading 25%
of the country's music sales and 13% of DVD/video sales, according to industry
estimates.
This summer, HMV opened three outlets in New Brunswick and two in British
Columbia. This month it will open outlets in Lasalle, Quebec, and Saskatoon,
Saskatchewan, with two more Toronto stores due within the year.
More immediate is HMV's return to downtown Vancouver, which it left five
years ago. The company has acquired Virgin Entertainment Group's sole Canadian
Virgin Megastore. The 40,000-square-foot, three-level store on the busy corner of
Robson and Burrard streets will be HMV's largest outlet in Canada.
HMV Canada president Humphrey Kadaner calls the store "the best piece of real
estate in the country; the traffic is immense."
The store ceased trading under the Virgin name Sept. 4; it is to reopen Sept.
11. HMV already operates 9 stores in the greater Vancouver area including an
outlet in nearby Burnaby opened Sept. 1.
"This gives us the brand authority and presence in an incredibly important
market," U.K.-based HMV Group CEO Alan Giles says. HMV has nine other stores in
the Vancouver area.
"With HMV's integrated marketing efforts nationally, this is really going to
help them in the Vancouver market," Universal Music Canada president/CEO Randy
Lennox says.
Giles says HMV Group's expansion demonstrates its confidence in the Canadian
market. A year ago, he says, he was looking at Canada as "a mature business. I
couldn't see us opening any more stores."
But now, Giles says, "Humphrey and his team have created a business model
that changed the threshold of viability."
For the 2004/2005 financial year, HMV Group's operating profit for Canada (as
HMV North America) rose 217%, from £2.4 million ($4.4 million) in the prior
year to £7.6 million ($13.9 million) on a 52-week basis.
That was aided by shuttering the group's U.S. stores, which recorded a £2
million ($3.65 million) operating loss the previous year. HMV's 2004/2005 sales
in Canada rose 3.1% to £153.8 million ($281.1 million), with comparable-store
sales growing 13.5%. Kadaner says DVDs are a major contributor, accounting for
41% of HMV Canada's 2004/2005 sales in value.
Under Kadaner, HMV closed its last seven U.S. stores. It had launched with
two stores in New York in 1990. Beleaguered by losses, the retailer shut its
U.S. headquarters in 1998.
"The organization committed to some poor real estate deals," Giles concedes,
"and maybe we didn't run that business as well as we could."
Kadaner emphasizes one major difference between the retail landscapes in
Canada and the United States. "We have a market [in Canada] where the majority of
music sales still go through retailers where music is a core part of their
business," he says. "That's not the case in the U.S."
HMV arrived in Canada in 1987 with 20 stores and an estimated 2.5% market
share after acquiring the assets of the Mister Sound and Sherman Music chains.
Kadaner, who reports to HMV Group COO Brian McLaughlin in London, was
appointed HMV North America president in 2003.
"Humphrey is the best HMV Canada president in its 20-year-old history,"
Lennox says. "He listens, he understands partnerships and he knows how to break
records." ••••
September 17, 2005
HMV EXPANDS IN CANADA, RETURNS TO DOWNTOWN VANCOUVER
BY LARRY LEBLANC
TORONTO - With 10 stores opening in its 2006 fiscal year, HMV Group is
bullish about Canada.
HMV Canada, which has 107 existing stores, accounts for a market-leading 25%
of the country's music sales and 13% of DVD/video sales, according to industry
estimates.
This summer, HMV opened three outlets in New Brunswick and two in British
Columbia. This month it will open outlets in Lasalle, Quebec, and Saskatoon,
Saskatchewan, with two more Toronto stores due within the year.
More immediate is HMV's return to downtown Vancouver, which it left five
years ago. The company has acquired Virgin Entertainment Group's sole Canadian
Virgin Megastore. The 40,000-square-foot, three-level store on the busy corner of
Robson and Burrard streets will be HMV's largest outlet in Canada.
HMV Canada president Humphrey Kadaner calls the store "the best piece of real
estate in the country; the traffic is immense."
The store ceased trading under the Virgin name Sept. 4; it is to reopen Sept.
11. HMV already operates 9 stores in the greater Vancouver area including an
outlet in nearby Burnaby opened Sept. 1.
"This gives us the brand authority and presence in an incredibly important
market," U.K.-based HMV Group CEO Alan Giles says. HMV has nine other stores in
the Vancouver area.
"With HMV's integrated marketing efforts nationally, this is really going to
help them in the Vancouver market," Universal Music Canada president/CEO Randy
Lennox says.
Giles says HMV Group's expansion demonstrates its confidence in the Canadian
market. A year ago, he says, he was looking at Canada as "a mature business. I
couldn't see us opening any more stores."
But now, Giles says, "Humphrey and his team have created a business model
that changed the threshold of viability."
For the 2004/2005 financial year, HMV Group's operating profit for Canada (as
HMV North America) rose 217%, from £2.4 million ($4.4 million) in the prior
year to £7.6 million ($13.9 million) on a 52-week basis.
That was aided by shuttering the group's U.S. stores, which recorded a £2
million ($3.65 million) operating loss the previous year. HMV's 2004/2005 sales
in Canada rose 3.1% to £153.8 million ($281.1 million), with comparable-store
sales growing 13.5%. Kadaner says DVDs are a major contributor, accounting for
41% of HMV Canada's 2004/2005 sales in value.
Under Kadaner, HMV closed its last seven U.S. stores. It had launched with
two stores in New York in 1990. Beleaguered by losses, the retailer shut its
U.S. headquarters in 1998.
"The organization committed to some poor real estate deals," Giles concedes,
"and maybe we didn't run that business as well as we could."
Kadaner emphasizes one major difference between the retail landscapes in
Canada and the United States. "We have a market [in Canada] where the majority of
music sales still go through retailers where music is a core part of their
business," he says. "That's not the case in the U.S."
HMV arrived in Canada in 1987 with 20 stores and an estimated 2.5% market
share after acquiring the assets of the Mister Sound and Sherman Music chains.
Kadaner, who reports to HMV Group COO Brian McLaughlin in London, was
appointed HMV North America president in 2003.
"Humphrey is the best HMV Canada president in its 20-year-old history,"
Lennox says. "He listens, he understands partnerships and he knows how to break
records." ••••
S
samsonyuen
Guest
I wonder where the two stores in Toronto are going (Greater Toronto or city of Toronto)...
E
Ed007Toronto
Guest
Eglinton and Laird (but that's probably next year) and a second location in an existing mall.
S
samsonyuen
Guest
Man, it looks like HMV's dominance is growing and getting more unchallenged! They've scared away Tower and Virgin! Now they're in power centres! I find Future Shop's CDs and DVDs cheaper anyway.
A
adma
Guest
I sometimes used the store's stairs to get down to the subway, same with the Gap at Bay & Bloor. I'm sure 3/4 of the people that entered Eddie Bauer did the same thing.
Likewise w/HMV at Holt Renfrew. (And at Yonge-Eg, for that matter...)
P
pw20
Guest
But HIV works as an impulse buy in some instances. Eddie Bauer does not.
aka when have you said, "hmm, i'll just grab those khaki's off that manequin and off to the subway I go!"
wheras, "Hilary Duff! I must buy her newest greatest hit cd!"
So maybe you've done neither?
aka when have you said, "hmm, i'll just grab those khaki's off that manequin and off to the subway I go!"
wheras, "Hilary Duff! I must buy her newest greatest hit cd!"
So maybe you've done neither?