HMV to close its seasonal store at Fareham centre

SALES HMV has had poor Christmas trading figures
SALES HMV has had poor Christmas trading figures
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TROUBLED music and video retailer HMV has confirmed it is to close its seasonal store in Fareham town centre.

The unit, inside Fareham Shopping Centre, opened about six weeks before Christmas.

But it is set to shut its doors on January 21.

Gennaro Castaldo, a spokesman for HMV, said rent and a lack of sales during other parts of the year meant it cannot open a permanent shop.

‘We were pleased with our short-lease store in Fareham and would like to thank our customers for their valued support,’ he said.

‘In an ideal world I’m sure we’d love to have a more permanent presence in the town.

‘But whilst our retail offer may be viable for us during the run-up to Christmas when most big releases tend to come out, it’s less so across the rest of the year when sales are much lower and costs such as rent are much greater in relation to turnover.

‘If we traded the year-round, as we’d ideally like to do, it’s possible the site could lose money, whereas having a temporary store at this very busy time of year enables us to provide a valuable service to customers when they are most likely to require it, hopefully also allowing us to make a return while employing a number of staff in the process.’

This week the music and video retailer announced poor sales figures over the Christmas period, in comparison with last year.

HMV is not the only store to open especially for Christmas, with Past Times also opening a seasonal store in the shopping centre.