GAME to nab HMV stores?

Up to 50 locations eyed up by the videogame retailer, according to reports.

GAME could soon come into acquisition of an unspecified number of HMV stores, according to the videogame retailer's CEO Martyn Gibbs.

The company, recently saved from administration itself by OpCapita, could be eyeing up as many as 50 HMV branches in locations where GAME is not represented, according to a report by the Financial Times.

“We will constantly review our property portfolio based on what is available,” Mr Gibbs told the newspaper.

“I would not rule out any stores becoming available, be that through an administration or normal property deals.”

It was also reported that GAME could face stiff competition from Hilco, the owner of HMV Canada, which recently reported a sales bump of 1.4 per cent year-on-year over the holiday season.

Despite the HMV UK's poor performance, the Canadian sister company recently reported that is achieved sales of more than CAD270 million during 2012, CAD65 million from the Christmas period alone.

“From the start, we saw a lot of promise in the business at HMV Canada and are delighted to see the business performing so strongly 18 months after our initial investment,” commented Paul McGowan, CEO of Hilco UK and Chairman of HMV Canada,

"These results, combined with the structural advantages of Canada’s retail market that Europe and the US do not have, prove that, by working with all stakeholders – our staff, suppliers, and landlords – and focusing on providing an excellent shopping experience, specialty retailers can thrive in the entertainment sector."

image: © yoppy

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