HMV Expected to Post $62 Million First-Half Loss, Guardian Says
HMV Group Plc (HMV) is expected to report a first-half loss on Dec. 19 of 40 million pounds ($62.2 million) and call its suppliers to an “urgent” meeting, the Guardian reported.
HMV is also expected to tell investors that the Christmas shopping period isn’t producing the desired increase in sales, the newspaper reported today.
Some analysts have said HMV cannot survive without a rights issue in 2012, while other sources speculate Vivendi SA (VIV)’s Universal Music Group will come up with a rescue offer for the business, according to the report.
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