The HMV group reports a 40.8% Y-o-Y decline for the half-year period ending October 2011, with revenues totalling £443.3M-- a net loss of £40.6M, up from £37.8M over the same period in 2010.
Total sales for the retailer are also down by 17.6% Y-o-Y, reaching £364.9M.
HMV warns of "material uncertainties" causing concerns for the future, as the current economic situation remains one best described as "wobbly." Earlier this year HMV also sold off Waterstones and HMV Canada.
However HMV says sales are up by 42% in 144 refitted retail outlets focusing on CE retail-- while headphone, speakerdock and tablet sales in such stores are up by 147% since refitting.
As a result the retailer will push the restructuring program throughout 2012, with hopes to deliver a "reshaped store portfolio" while reducing costs.
