HMV Administration [Gift cards NOW ACCEPTED!]

railbuff

TBeckett100 wrote: »

There is a shop in Kingston (see hotukdeals) that is offering 50% off goods if you hand over your HMV card with value on it.

I would like to know how these shops are going to establish if these cards have funds on them as most HMV cards dont have a printed value on them.

CoolHotCold

prowla wrote: »

Well, I see that Dixons reported strong sales, so it's not all doom and gloom.

Ahead of analysts expectations also, even with the Comet "firesale".
In short.
UK Sales up
Northern EU up
Southern EU down (but still profitable in Turkey, Greece and Italy)
Pixmania business sinking like a stone (but they only regained total control within the last period so expect a turnaround)

And the interim result excludes the DSGi Business and the customer support arrangements.


Not a bad turnaround for a company which lost more than 90% of it's share value, (and more than 90% of businesses which do usually go bust), in a area where you expect to be squeezed during a recession they've done fine, especially when you look at Argos or Darty (previous comet owners)

railbuff

CoolHotCold wrote: »

Ahead of analysts expectations also, even with the Comet "firesale".
In short.
UK Sales up
Northern EU up
Southern EU down (but still profitable in Turkey, Greece and Italy)
Pixmania business sinking like a stone (but they only regained total control within the last period so expect a turnaround)

And the interim result excludes the DSGi Business and the customer support arrangements.

Not a bad turnaround for a company which lost more than 90% of it's share value, (and more than 90% of businesses which do usually go bust), in a area where you expect to be squeezed during a recession they've done fine, especially when you look at Argos or Darty (previous comet owners)

I read somewhere that DSG have tried to get shot of Pixmania for the last 2 years as its a milestone around their necks. I just wish i could remember where i read this

CoolHotCold

They might of tried to get rid of their involvement of it, but they took full ownership and control of it in August.

Perhaps they tried for so long to get rid of it they thought just buying it outright and taking control of it to turn it around is their best long term bet.


Either way, they own it and took a massive writeoff earlier in the year of their investment of it so the losses accrued so far should already be priced in and not come as, a big a surprise.


It's now theirs to do as they see fit with it, either shut up shop or turn it around next financial year.

railbuff

CoolHotCold wrote: »

They might of tried to get rid of their involvement of it, but they took full ownership and control of it in August.

Perhaps they tried for so long to get rid of it they thought just buying it outright and taking control of it to turn it around is their best long term bet.


Either way, they own it and took a massive writeoff earlier in the year of their investment of it so the losses accrued so far should already be priced in and not come as, a big a surprise.


It's now theirs to do as they see fit with it, either shut up shop or turn it around next financial year.

Pixmania have been part of DSG since 2008

dixonsretail.com/dixons/uploads/finresrepo/FINALINTERIMREPORT2008.pdf
dixonsretail.com/dixons/uploads/finresrepo/FINAL200910PDF.pdf

CoolHotCold

railbuff wrote: »

Pixmania have been part of DSG since 2008

dixonsretail.com/dixons/uploads/finresrepo/FINALINTERIMREPORT2008.pdf
dixonsretail.com/dixons/uploads/finresrepo/FINAL200910PDF.pdf

http://www.dixonsretail.com/dixons/en/mediacentre/mediapressreleases?id=551

They may of been a part of it, but they didn't have control of the running of it, the 22% buyout of the founders means they can now run the business day to day and also stably plan for it.

railbuff

CoolHotCold wrote: »

http://www.dixonsretail.com/dixons/en/mediacentre/mediapressreleases?id=551

They may of been a part of it, but they didn't have control of the running of it, the 22% buyout of the founders means they can now run the business day to day and also stably plan for it.

It has been part of the DSG as DSG had over 51% of shares (77%), so were legally in control of Pixmania, thats why it has appeared in their accounts since 2008, all they did in Aug. 2012 is to buy the 22% ownered by the founders which gives DSG 99% of the business ( NOT FULL CONTROL)

thatguy1

Just seen on Tesco Facebook page that if you purchased a HMV gift card from them you can take it back & the money will be put on a Tesco gift card.

https://www.facebook.com/tesco/posts/466483540077449

railbuff

thatguy1 wrote: »

Just seen on Tesco Facebook page that if you purchased a HMV gift card from them you can take it back & the money will be put on a Tesco gift card.

https://www.facebook.com/tesco/posts/466483540077449

yes because their biggest rival ASDA is doing it

pmduk

I'm convinced Tesco wouldn't have done it, unless ASDA had led the way.