HMV Canada says it surpassed its $65M sales target for hoilday season
People pick up albums by The Beatles at a HMV store in London, Wednesday, Sept. 9, 2009. (AP / Akira Suemori)
The Canadian Press
Published Tuesday, January 8, 2013 4:24PM EST
TORONTO -- Music and movie retailer HMV Canada say it surpassed $65 million in sales over the holiday period, bringing 2012 total sales to more than $270 million.
The company attributed most of the revenue to CDs and DVDs, but says other products like T-shirts, seasonal items and headphones also attracted customers into their stores.
The retailer says it saw a growth of 49 per cent in its gifts and collectibles category, with T-shirt sales increasing by 29 per cent and seasonal merchandise sales increasing by 33 per cent.
Same store sales -- a key metric in the retail industry -- were up 1.4 per cent over the 2011 holiday shopping season.
Popular music releases from One Direction, Bruno Mars, Rihanna and The Beatles, along with DVD titles including the Star Wars saga and Dr. Who, also boosted sales during the holiday period.
In recent years, HMV Canada has become less reliant on physical music CD sales in its overall business.
A decade ago, CDs accounted for more than 90 per cent of sales at its stores, while today that figure is closer to around 30 per cent.
Last December, the company launched an online music streaming subscription service called The Vault to compete with other digital services including Rdio, Slacker Radio, Rara and Deezer.
HMV Canada operates 116 stores across the country, since opening its first one in 1988 in Mississauga, Ont.