REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Off-Topic / Current Events

Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

Reply
 
Thread Tools
Old 01-15-2013, 11:45 AM   #1
My homepage has been set to RS
 
dachinesedude's Avatar
 
Join Date: Jun 2006
Location: Richmond
Posts: 2,063
Thanked 1,076 Times in 386 Posts
HMV files for bankruptcy

Britain’s HMV files for bankruptcy protection

Quote:
After more than nine decades in business, British music and entertainment giant HMV is scrambling to stay afloat amid stiff competition from online retailers and digital downloading services.

The company announced Tuesday that it was suspending trading on the London stock exchange, as its shares fell to 1.1 pence on Monday, and called in officials from Deloitte to act as administrators to find a buyer for the business.

However, HMV Canada’s 113 stores are not affected because Hilco UK, a specialist in restructuring retail businesses, bought the Canadian operations for about $3.2 million in 2011. The parent company was looking to divest some of its overseas operations to shore up the sagging business.

“We were one of the first ones that agreed to go it alone,” said Nick Williams, HMV Canada president and CEO, in a telephone interview. “We had strong Christmas sales and a strong 2012. It was a stellar year.”

Same store sales for HMV Canada for the holiday period in 2012 were up 1.1 per cent over the 2011 season. Full year sales in 2012 exceeded $270 million.

Williams said the Canadian operations focused on core content including CDs, which make up 35 per cent of sales, and DVDs at 50 per cent. It also added gifts and collectibles, which have profit margins exceeding 50 per cent, as well as T-shirts.

By contrast, the U.K. stores got into the hardware technology businesses including tablets and games, which is a highly competitive segment with poor margins, he added.

While that may bring increased foot traffic, Williams believes it was the wrong strategy for U.K. operations, given how competitive that market is.

Hilco has been named as a potential buyer for the U.K. operations along with private equity firm Endless, and private equity veteran Jon Moulton, according to the Financial Times.

HMV U.K.’s 238 stores, some in high-rent city centres, including the flagship one on Oxford St. in London, which played a crucial part in the launch of the Beatles, will remain open for the time being. More than 4,000 people work for the chain.

The decision to call in administrators came after management failed to reach an agreement with lenders and suppliers to continue trading.

The name HMV, which stands for his master’s voice, comes from the company’s trademark of a dog named Nipper staring intently at the bell of an early gramophone player.

Over the years, the industry has changed, but it’s become even more pronounced in recent years. Fans no longer have to buy records or CDs to get music or DVDs for their favourite movies or television programs.

Instead, they can buy individual songs through an iTunes account or watch movies through streaming services like Netflix. And if they still want to buy a CD or DVD, cheaper options exist at discount retailers or online through stores like Amazon, which don’t pay high rents for bricks-and-mortar operations.

But Williams argues big box competitors or discount retailers only feature new releases and don’t hold the wide catalog of CDs or DVDs that a specialist chain like HMV can. And during the holiday season, CDs and DVDs are popular gift choices.

As well, he added Canadians still prefer to buy items in stores and are less likely than those in the UK or the U.S. to make online purchases.

Recently, HMV Canada launched a new subscription-based, streaming digital music service.

Despite steadily losing market share to Internet sellers, HMV still has about 20 per cent of the U.K. music and video market, which includes both downloads and discs.
Good read, more detailed:
Why did HMV fail? | Philip Beeching | Comment is free | guardian.co.uk
Advertisement
dachinesedude is offline   Reply With Quote
Old 01-15-2013, 11:52 AM   #2
Zionism gets my shell hard and slimy
 
snails's Avatar
 
Join Date: Jun 2012
Location: in a shell
Posts: 2,580
Thanked 5,905 Times in 1,119 Posts
i was actually in HMV a couple weeks ago and i noticed something pretty quick, no one under the age of at least 30 was in there majority looked at least 50 years old.. not at all surprised that this happened with the laziness of this generation.

convenient/free>everything <-- attitude of todays generation

i dont blame people tho, i rather download a cd on itunes/torrents then go somewhere to buy it for the same price or free
snails is offline   Reply With Quote
This post thanked by:
This post FAILED by:
Old 01-15-2013, 11:57 AM   #3
what manner of phaggotry is this
 
RRxtar's Avatar
 
Join Date: Nov 2001
Location: Kelownafornia
Posts: 17,971
Thanked 4,932 Times in 1,658 Posts
im positive HMV is only staying afloat by the older crowd. A guy I work with is in his mid 50s and has like 1000 CDs and even records. He buys everything he wants to listen to.
__________________
STRENGTHaesthetics
RRxtar is online now   Reply With Quote
Old 01-15-2013, 12:04 PM   #4
MOD MOD MOD MOD MOD
 
nabs's Avatar
 
Join Date: Dec 2003
Location: vancouver
Posts: 5,526
Thanked 3,333 Times in 1,061 Posts
I buy CD's as well. To me owning a digital format is not really owning anything. I need to be able to see/feel the product, lol.
__________________
.

Looking for something to do tonight? ====> OFFICIAL MUSIC EVENTS CALENDAR

Spoiler!
nabs is offline   Reply With Quote
This post thanked by:
Old 01-15-2013, 12:18 PM   #5
Willing to sell a family member for a few minutes on RS
 
hotjoint's Avatar
 
Join Date: Feb 2005
Location: Surrey
Posts: 12,669
Thanked 649 Times in 352 Posts
Last time I bought a CD was 1999
hotjoint is offline   Reply With Quote
This post thanked by:
Old 01-15-2013, 12:25 PM   #6
Zionism gets my shell hard and slimy
 
snails's Avatar
 
Join Date: Jun 2012
Location: in a shell
Posts: 2,580
Thanked 5,905 Times in 1,119 Posts
last cd i bought when new
snails is offline   Reply With Quote
This post thanked by:
Old 01-15-2013, 12:31 PM   #7
14 dolla balla aint got nothing on me!
 
ApePee2's Avatar
 
Join Date: Jul 2012
Location: Somewhere
Posts: 670
Thanked 423 Times in 102 Posts
Not surprised at all.. they were steadily closing down multiple locations in the past year. I can only think of two locations that haven't closed yet, white rock and langley
ApePee2 is offline   Reply With Quote
Old 01-15-2013, 12:35 PM   #8
My homepage has been set to RS
 
Spoon's Avatar
 
Join Date: Apr 2001
Location: VAN/RMD/BBY
Posts: 2,224
Thanked 761 Times in 337 Posts
Quote:
Originally Posted by nabs View Post
I buy CD's as well. To me owning a digital format is not really owning anything. I need to be able to see/feel the product, lol.
Me too. I love my Discman.
__________________
My Buyer/Seller Rating
Spoon is offline   Reply With Quote
Old 01-15-2013, 12:37 PM   #9
RS.net PIMP
 
7seven's Avatar
 
Join Date: Aug 2002
Location: Vancouver/LA
Posts: 4,903
Thanked 3,067 Times in 828 Posts
Oddly enough I have purchased a number of CDs and vinyls in the past few months, but more as a display items on the walls for my media room.
__________________

13 Range Rover SC
11 Yukon Hybrid
13 Accord V6 Coupe
7seven is offline   Reply With Quote
This post thanked by:
Old 01-15-2013, 12:48 PM   #10
Zombie Mod
 
Presto's Avatar
 
Join Date: Aug 2003
Location: Langley
Posts: 9,268
Thanked 4,401 Times in 1,277 Posts
Amazon has AutoRip, now. Any previous or new purchases of CDs will give you a digital copy.
__________________
Romans 10:9
Presto is online now   Reply With Quote
Old 01-15-2013, 01:28 PM   #11
Cant Stop Modding Fat Cars w/ Cheap Pasts!
 
StylinRed's Avatar
 
Join Date: Oct 2002
Location: CELICAland
Posts: 23,046
Thanked 9,234 Times in 3,293 Posts
i was in hmv on christmas eves eve buying blu-rays though


as mentioned before i still buy cds; i was a bit surprised to hear about the UK hmv's getting in trouble since blockbusters/hmv have always done better in the uk, until i heard how many stores they have there... seems a bit excessive for such a small area
StylinRed is offline   Reply With Quote
Old 01-15-2013, 01:47 PM   #12
RS controls my life!
 
Jegz's Avatar
 
Join Date: Feb 2010
Location: Richcity
Posts: 1,295
Thanked 1,178 Times in 228 Posts
Havent bought a cd since The Eminem Show. Datpiff and thepiratebay ftw.
Jegz is offline   Reply With Quote
Old 01-15-2013, 02:03 PM   #13
Banned By Establishment
 
Join Date: Feb 2009
Location: bedroom
Posts: 3,111
Thanked 3,491 Times in 1,176 Posts
I very rarely buy CDs and only do so when it is one of my fav band putting out a new album. I know I will like it without even having to listen to it before the purchase.

Gone are the days where I would hear a song on the radio, like it, buy the cd, listen to that one song over and over because the rest of the CD sucked, and never pick it up again.

I have boxes and boxes of CDs....mostly shit like Marcy's Playground, Eve 6, Smashmouth, Fatboy Slim, Spacehog, etc...
dinosaur is offline   Reply With Quote
Old 01-15-2013, 02:59 PM   #14
Hypa owned my ass at least once
 
AVS_Racing's Avatar
 
Join Date: Jul 2004
Location: Vancouver
Posts: 6,592
Thanked 1,491 Times in 341 Posts
I would buy cds if I liked the artist and I find true cd quality sounds better on car stereo than mp3s
Posted via RS Mobile
AVS_Racing is offline   Reply With Quote
Old 01-15-2013, 03:02 PM   #15
y'all better put some respeck on my name
 
Harvey Specter's Avatar
 
Join Date: Dec 2002
Location: Vancouver
Posts: 17,743
Thanked 8,025 Times in 2,085 Posts
Not shocking because who buys DVD's and CD's anymore.
Harvey Specter is offline   Reply With Quote
This post thanked by:
Old 01-15-2013, 04:29 PM   #16
Director of RS Cares
 
miss_crayon's Avatar
 
Join Date: Sep 2005
Location: Crayon Box
Posts: 5,173
Thanked 600 Times in 281 Posts
^me. I still buy CDs on the reg.
Posted via RS Mobile
miss_crayon is offline   Reply With Quote
Old 01-15-2013, 04:30 PM   #17
My homepage has been set to RS
 
drunkrussian's Avatar
 
Join Date: Dec 2008
Location: Vancouver
Posts: 2,308
Thanked 824 Times in 340 Posts
even if u like to buy cds, hmv is overpriced crap. If they can't get in the digital game, they should at least get their marketing mix up to speed. They did neither and deserve to go bankrupt
drunkrussian is offline   Reply With Quote
Old 01-15-2013, 04:35 PM   #18
Banned (ABWS)
 
Join Date: Apr 2008
Location: vancouver
Posts: 3,304
Thanked 1,107 Times in 271 Posts
Uh....this is UKs HMV. The few left in Canada are still in operation and have nothing to do with this. Just saying.
KingDeeCee is offline   Reply With Quote
Old 01-15-2013, 04:40 PM   #19
Where's my RS Christmas Lobster?!
 
Prolowtone's Avatar
 
Join Date: Jan 2011
Location: Langley BC
Posts: 865
Thanked 336 Times in 109 Posts
If listen to the artist and the cd has mostly good songs on it then i will usually go buy it. I remember when my MP3 player broke up north in the oil patch and i got out my discman, Every single person in camp made fun of me I only had 2 cds that didnt skip hahahaha
Prolowtone is offline   Reply With Quote
Old 01-15-2013, 04:46 PM   #20
What hasn't Killed me, has made me more tolerant of RS!
 
Join Date: Aug 2012
Location: Vancouver
Posts: 181
Thanked 109 Times in 44 Posts
Don't worry, it'll happen here too soon enough. Selling CDs and DVDs out of a big box store in this day and age is a sure way to bankruptcy. It's too bad you can't buy MP3s off Amazon.ca
JaPoola is offline   Reply With Quote
Old 01-15-2013, 05:31 PM   #21
Prince of the Apes
 
bloodmack's Avatar
 
Join Date: Oct 2007
Location: Abbotsford
Posts: 2,469
Thanked 3,046 Times in 672 Posts
Quote:
Originally Posted by snails View Post
i was actually in HMV a couple weeks ago and i noticed something pretty quick, no one under the age of at least 30 was in there majority looked at least 50 years old.. not at all surprised that this happened with the laziness of this generation.

convenient/free>everything <-- attitude of todays generation

i dont blame people tho, i rather download a cd on itunes/torrents then go somewhere to buy it for the same price or free
What in the fuck? Lazy because they don't goto a store and buy a physical copy? And last I checked you paid for itunes songs. What about concerts and theaters? Ignorance at its finest.

this is the digital era, some won't accept it, most will. I think the only thing id buy would be blu-ray.
__________________
There's times in life where I want a relationship, but then I cum.
Quote:
[23-08, 13:17] nabs i've gripped ice boy's shaft before
Quote:
[26-08, 13:50] Jesusjuice is this a sports car forum? why are there so many hondas?
bloodmack is offline   Reply With Quote
This post thanked by:
Old 01-15-2013, 06:59 PM   #22
y'all better put some respeck on my name
 
Harvey Specter's Avatar
 
Join Date: Dec 2002
Location: Vancouver
Posts: 17,743
Thanked 8,025 Times in 2,085 Posts
I remember when I was 16 (16 years ago) I would go to HMW in Metro because they would always have the hard to find import CD's you couldn't get from anywhere else, at one point I must have had a collection of 500 CD's.

It is sad to see them go but the digital era has taken over, I mean hell most cars now come stock with a aux and USB input, even the days of burning CD's are basically over and done with.
Harvey Specter is offline   Reply With Quote
Old 01-15-2013, 07:40 PM   #23
Willing to sell body for a few minutes on RS
 
quasi's Avatar
 
Join Date: Jul 2001
Location: Cloverdale
Posts: 10,231
Thanked 2,279 Times in 827 Posts
There is a massive Victoria Secret going into the old downtown location.
__________________



“The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I don´t care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. That´s how winning is done. Now, if you know what you worth, go out and get what you worth.” - Rocky Balboa
quasi is offline   Reply With Quote
Old 01-15-2013, 09:18 PM   #24
My homepage has been set to RS
 
MelonBoy's Avatar
 
Join Date: Oct 2005
Location: Vancouver
Posts: 2,101
Thanked 169 Times in 91 Posts
Im not that surprised... I went dvd hunting this christmas and its expensive as hell... Online purchases are probably killing them
__________________
Quote:
Originally Posted by getalove View Post
i took a shit in the shower and i tried to use my heel to push it down the drain
MelonBoy is online now   Reply With Quote
Old 01-15-2013, 11:54 PM   #25
Big Drama Show
 
jayare604's Avatar
 
Join Date: Oct 2010
Location: Goodboy Nation
Posts: 5,733
Thanked 3,080 Times in 1,195 Posts
Seeing all these CD stores file for bankruptcy is like a kick in the nuts to my childhood

jayare604 is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 12:37 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net