Economy of the United Kingdom

  1. Zavvi Revamps Board

    January 11, 2008 12:00 AM EST U.K. entertainment retailer Zavvi has restructured its board following an increase in sales over the Christmas period. The chain has appointed marketing director Steve Kincaid as e-commerce director. He will focus on developing the company's ...

  2. Stage Ticketing Snaps Up See Tickets

    January 10, 2008 12:00 AM EST Amsterdam-based Stage Ticketing International has acquired See Tickets, the U.K.'s second largest ticketing group, from Andrew Lloyd Webber's Really Useful Group. The change of ownership will take effect from Jan. 31; terms of the deal w ...

  3. Zavvi Celebrates Double-Digit Holiday Sales Boost

    January 08, 2008 12:00 AM EST U.K. entertainment retail chain Zavvi has reported a 10.8% increase in sales on the previous year, when it was trading as Virgin Megastores. However, music sales were down 11.6% compared to the same period in the previous year. The company blames ...

  4. HMV Says Well Prepared For Christmas After H1 Loss

    December 12, 2007 12:00 AM EST British music and books retailer HMV Group Plc said on Wednesday it was well set up for the key Christmas trading period as it unveiled an expected first-half loss. The retailer, which runs Waterstone's bookstores as well as music shops under ...

  5. EMI, NatWest Team On Teen Artwork Initiative

    October 30, 2007 12:00 AM EDT EMI U.K. and Ireland is banking on a new promotion tool for its artists. The music major has struck what it describes as an "exclusive and first of its kind deal" with British bank NatWest that will see album artwork embellished on chip ...

  6. Seddons Lawyer Kent Dies

    October 19, 2007 12:00 AM EDT British music lawyer David Kent of international law firm Seddons died last night of pancreatic cancer. He was 54. Kent, an expert in commercial contract negotiation, intellectual property rights and media-related dispute resolution, served as hea ...

  7. Hands Rebuilds EMI Team With Hodgkinson Appointment

    October 12, 2007 12:00 AM EDT EMI Group chairman Guy Hands has recruited Mark Hodgkinson, former CEO of personal finance firm Virgin Money, to the London-based major's investor and music management boards. With immediate effect, Hodgkinson becomes EMI Music consumer devel ...

  8. Fopp Flag Flies Again In London

    October 02, 2007 12:00 AM EDT Market-leading U.K. retailer HMV is to re-open the Covent Garden branch of shuttered record store Fopp in London on Saturday (Oct. 6), after persuading the landlord to reverse its decision over the lease. The 4,000 sq.ft. store will recommence tra ...

  9. Virgin Digital U.K. Calls Time

    September 25, 2007 12:00 AM EDT The plug is about to be pulled on Virgin Digital. The U.K.-based online music service will cease selling tracks starting Friday, and will close to all customers Oct. 19, according to a statement posted on the site. The closure of the Virgin-brande ...

  10. Virgin Megastores U.K. Changes Hands In MBO

    September 17, 2007 12:00 AM EDT Richard Branson's Virgin Group has sold-off its Virgin Megastores U.K. and Ireland chain for an undisclosed sum. A team led by Virgin Megastores managing director Simon Douglas and finance director Steve Peckham has bought the 125-store chain ...

  11. U.K. Retail Empire Strikes Back Against Slump

    September 07, 2007 12:00 AM EDT After a year of store closures and slumping sales, U.K. music retail is attempting to stave off meltdown with a host of new in-store initiatives. The long, wet summer has seen some seismic shifts in the market, with the traditionally buoyant album ...

  12. Sales Boost Give HMV 'Pleasing Start'

    September 06, 2007 12:00 AM EDT HMV Group plc is boasting a positive turn in its fortunes with double-digit sales growth in its first quarter, the music and entertainment retail giant reported today. Group sales for the 18 weeks ending Sept. 1 were up 12.2%, with like-for-like r ...

  13. HMV Canada Slashes Prices To Shore Up Sagging Sales

    September 01, 2007 12:00 AM EDT HMV Canada says it will cut catalog stocks if an ambitious new price-cutting program fails to shore up sagging CD sales. Market leader HMV, which has a 35% market share of the Canadian music retail sector, according to Nielsen Canadian SoundScan, ...

  14. Nicoli: EMI's Terra Firma Future Bright

    August 29, 2007 12:00 AM EDT EMI's outgoing chief Eric Nicoli has assured employees that the business is in safe hands with its new owner, the Terra Firma equity house. In an internal letter issued to EMI's artists, writers and staff, Nicoli presented a promising fu ...

  15. HMV Canada Drops Prices

    August 27, 2007 12:00 AM EDT HMV Canada, the country’s leading music retailer with more than 104 stores, revealed today that it was cutting its catalogue pricing by up to 33%. "Lowering prices will lead to greater value and offer more to our consumers," said Humphre ...

  16. London Fails To Figure In HMV’s Fopp Revival

    August 22, 2007 12:00 AM EDT HMV says that despite their "very best efforts", their revival of the U.K. Fopp retail chain will not include a London branch among the six stores re-opening this month. Stores in Edinburgh, Manchester, Nottingham, Cambridge and Glasgow ...

  17. Brit Retailer Choicesuk Hits The Wall

    August 21, 2007 12:00 AM EDT British DVD and music retailer ChoicesUK has called in the administrators and suspended trading in its shares on the AIM section of the London Stock Exchange. ChoicesUK has 170 outlets focusing on DVD and computer games for sale and rental. The co ...

  18. Terra Firma Reject Nicoli Sack Claims

    August 15, 2007 12:00 AM EDT European equity house Terra Firma is playing-down speculation that EMI Group CEO Eric Nicoli is on the verge of being jettisoned. Sources close to the music major claim Terra Firma has appointed a headhunter to find a replacement for Nicoli, a mov ...

  19. Ayling Flies Out Of Sanctuary

    August 13, 2007 12:00 AM EDT Sanctuary Group chairman Robert Ayling and three non-executive directors are no longer on the board of the music company. Ayling and his colleagues James Wallace, Tina Sharp and John Preston leave less than a fortnight after Universal Music Group& ...

  20. HMV Buys Fopp Brand, Outlets

    July 31, 2007 12:00 AM EDT HMV Group is injecting new life into Fopp. The music and entertainment retail giant has reached an agreement to buy the recently-bankrupted Fopp brand, its URL and the lease on six of the retailer's outlets, depending on landlord consent. Fin ...

  21. HMV Sells Japanese Biz

    July 31, 2007 12:00 AM EDT Music and entertainment retail giant HMV Group has agreed to sell its 62-store HMV Japan business to DSM Investments catorce Co. Ltd for ¥17 billion (£70 million) in cash. The deal is expected to be completed by the end of August, HMV said today. ...

  22. HMV Names New Executive Director

    July 26, 2007 12:00 AM EDT British music and entertainment retail giant HMV has appointed Gerry Johnson as a new executive director, with immediate effect. Johnson currently serves as managing director of HMV-owned bookseller Waterstone's in the United Kingdom. Johnson ...

  23. Beggars Group Buys Rough Trade

    July 24, 2007 12:00 AM EDT U.K. independent music powerhouse Beggars Group has acquired indie Rough Trade Records for £800,000 ($1.6 million) in cash, with immediate effect. London-based Beggars said today it has reached an agreement with Sanctuary Group to buy the 49% stak ...

  24. HMV Eyeing Up Fopp Outlets?

    July 20, 2007 12:00 AM EDT HMV could be poised to snap up some stores of the recently-bankrupted U.K. specialist music chain Fopp, according to media reports. Fopp, at one time the U.K.'s leading independent music-focused retailer, collapsed June 29 with 700 job losses ...

  25. Virgin Relaunches U.K. Retail Website

    July 17, 2007 12:00 AM EDT The U.K.'s Virgin Megastores retail brand is revamping its Web site with enhanced existing services, increased user participation, plus new offerings linked to live music. The move to offer a more developed digital experience comes shortly af ...

  26. U.K.'s Rough Trade Opens New Prototype Store

    July 16, 2007 12:00 AM EDT Rough Trade, the iconic specialist London music store, is about to launch a new outlet which it claims is designed to revolutionize the music-retail landscape. The retailer, until now operating two small niche outlets in Central London's Cove ...

  27. Virgin, HMV War Over Prince's 'Planet Earth' Covermount

    July 09, 2007 12:00 AM EDT Britain's two leading specialist music and entertainment retailers have locked horns as the row over Prince's CD "covermount" reaches a new nadir. Virgin Megastores has slammed rival HMV, describing the company as "opportu ...

  28. Compass Facility Management Re-Brands

    July 03, 2007 12:00 AM EDT Compass Facility Management, which provides management and consulting services to 26 venues across the United States, has changed its name to VenuWorks, effective immediately. The primary reason for the re-branding is in response to recent a cease ...

  29. Fopp Sheds 700 Staff

    July 03, 2007 12:00 AM EDT Fopp, the recently-defunct independent British music retailer, has axed 700-plus employees. Ernst & Young, the accountancy firm appointed administrator to the recently-collapsed chain, confirmed the job losses in a statement today. The adminis ...

  30. U.K. Retailer Fopp Shutters

    June 29, 2007 12:00 AM EDT Fopp, the U.K.'s leading independent specialist music retailer, has gone bust. The company issued a statement today (June 29) confirming industry speculation that it was going bankrupt after 25 years in the business. "It is with great re ...

  31. Fopp's Future Remains Uncertain

    June 28, 2007 12:00 AM EDT The future of Fopp is apparently still up in the air four days after the U.K. independent specialist music retailer stopped taking payments by credit cards at its stores. On Monday, the company admitted to "experiencing difficulties" aft ...

  32. HMV Annual Profit Down, Current Sales Up

    June 28, 2007 12:00 AM EDT British retail giant HMV Group admitted today it had suffered a "difficult" financial year. Pre-tax profits for the music-and-books specialist retailer slumped 73% to £21.6 million ($43 million) in the financial year ending April 28, fro ...

  33. Sony BMG Tests New Mobile Music Service

    June 26, 2007 12:00 AM EDT Sony BMG is testing a mobile music service in Europe that would allow fans to buy and download select songs using SMS short codes instead of accessing them through the music store of a wireless operator. The label is working with operator Vodafone ...

  34. Update: Fopp's Fate Hangs In Balance

    June 25, 2007 12:00 AM EDT The fate of leading U.K. independent music retailer Fopp remains uncertain despite stores re-opening on June 23, after an unexpected closure the day before. The company has publicly admitted "experiencing difficulties" after failing to o ...

  35. Sony BMG, Vodafone Offer Free Downloads In Spain

    June 20, 2007 12:00 AM EDT Sony BMG Spain and mobile phone operator Vodafone Espana are launching a three-month summer promotional campaign which will offer Vodafone subscribers access to free downloads of 1,000 tracks from the label's catalog. The "Vodafone Summe ...

  36. Woolworths Appoints Hunt Music, DVD Manager

    June 04, 2007 12:00 AM EDT Alan Hunt, former music senior buying manager with U.K. supermarkets giant Tesco, is returning to Woolworths in the role as trading manager for music and DVD. Hunt will oversee the British retail giant's music and video retailing operations, ...

  37. Woolworths To Supply U.K. Retailer Asda With CDs, DVDs

    May 25, 2007 12:00 AM EDT Entertainment UK (EUK), the entertainment wholesale subsidiary of British retailer Woolworths Group plc, has struck an agreement in principle to supply entertainment products to the Asda supermarket chain. Through the deal, unveiled today, EUK wil ...

  38. HMV Japan Auction Begins

    May 11, 2007 12:00 AM EDT British music and books retailer HMV Group Plc is auctioning its Japanese business, with buyout firms among the bidders, sources familiar with the matter said on Friday. The bidding has started high, at about 10 times core earnings. Japanese bank ...

  39. HMV Looks To Arctic Monkeys In Tough Trade

    May 03, 2007 12:00 AM EDT British music and books retailer HMV Group Plc said on Thursday it was confident profits for the full year would be in line with restated analyst expectations despite an extremely tough market. The group, which issued a profit warning in March due ...

  40. Virgin Plans Expansion

    April 11, 2007 12:00 AM EDT After reaping positive financial gains from remerchandising its store format, the Virgin Entertainment Group North America is once again in expansion mode. That's the word from VEGNA chairman Simon Wright, who presided over a three-year restr ...

  41. Cunning Fox Outlines HMV Survival Plans

    March 13, 2007 12:00 AM EDT British market-leading music and entertainment retailer HMV Group plc this morning issued a profit warning and unveiled a "radical" three-year review of the company's operations. The company's stockprice fell 11.29% in morning ...

  42. Woolworths Chairman Corbett Splits

    March 02, 2007 12:00 AM EST Gerald Corbett, chairman of British retail giant Woolworths Group, is to abdicate after six years in the role. With effect from the company's annual general meeting on June 6, Corbett will hand over the reins to Richard North. North has serve ...

  43. U.K.'s Virgin Retail To Revamp Website

    February 26, 2007 12:00 AM EST Giant U.K. music and entertainment merchant Virgin Retail is to undergo a "complete revamp" of its online offering. The new Virgin Retail Web site at virginmegastores.co.uk will be developed with "simplicity" and "usabilit ...

  44. Harrods Rocks Off

    February 16, 2007 12:00 AM EST The Harrods Rocks instore promotion, which was to include live performances from a host of U.K. and U.S. bands and a world-record-breaking attempt to play Deep Purple's "Smoke On The Water with 2,000 guitarists, has been cancelled after ...

  45. Fopp Builds Empire On Music Zone

    February 05, 2007 12:00 AM EST British independent music retailer Fopp has bought 67 stores from administrators of the beleaguered Music Zone chain. The outlets, plus Music Zone's headquarters and warehouse in Stockport, England and its warehouse in Denton, have been sold ...

  46. EUK Signs Virgin Supply Contract

    February 01, 2007 12:00 AM EST EUK, the entertainment wholesale subsidiary of U.K. retail giant Woolworths Group, has won a three-year contract to supply Virgin Retail Limited with entertainment and associated goods. Starting June 1, EUK will assume responsibility for buying VR ...

  47. Music Zone Hits The Skids

    January 25, 2007 12:00 AM EST Time has run out for Music Zone, the embattled British music and entertainment retailer. Administrators for the High Street retailer have pulled the plug after admitting that they wouldn't find a home for the company. In a statement issued la ...

  48. U.K.'s Music Zone Closes 31 Stores

    January 16, 2007 12:00 AM EST Music Zone, the British music retailer which recently went into administration, has shuttered 31 outlets. The chain's administrators Deloitte pulled the trigger on the stores, which will result in the loss of 325 jobs. Music Zone was placed i ...

  49. Wadsworth In, Jamieson Out At BPI

    January 15, 2007 12:00 AM EST The BPI has confirmed its new structure, which sees EMI Music U.K. and Ireland chairman/CEO Tony Wadsworth come on board and chairman Peter Jamieson exit. As tipped in Billboard.biz , Wadsworth becomes chairman in the trade body's re-jigged e ...

  50. Knott Splits With HMV

    January 11, 2007 12:00 AM EST In a surprise move, HMV U.K. and Ireland managing director Steve Knott is to stand down from the business by "mutual consent" at the end of January, the market-leading music and entertainment retailer said today (Jan. 11). From Feb. 1, g ...

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