HMV becomes UK’s biggest physical music retailer

The CEO of HMV’s owner Hilco has stated in an interview this weekend that the retailer has overtaken Amazon as the country’s biggest physical retailer. Paul McGowan has claimed that the company’s sales increase was a result of a strong Black Friday and Christmas campaign.

The increase in sales and profit has been linked to a bump of 1.5% in CDs and an impressive rise of 170% since restocking vinyl albums in their stores. Paul McGowan stated to CityAM:

“HMV has captured more and more market share in a year when major new movie releases have been scarce and there have been only a few major album successes.”

The HMV Group entered administration in January 2013 before Hilco Capital UK bought the debt off the company leading to total control of the chain. Since then the company has restructured its operations and in September Hilco announced that all of the stores were functioning as profitable branches.