Embattled HMV, the entertainment retailer, is scaling back its fashion ambitions and has not ruled out closing more stores after a disastrous Christmas.
HMV opened The Studio boutiques in 38 stores last September, selling fashion brands such as Lee jeans and Boxfresh, in a bid to widen its range as music sales came under pressure.
However, fashion lines would not be rolled out to more stores, a source familiar with the situation said. Analysts said performance had not matched hopes. Entertainment-related apparel, such as band T-shirts, were selling “very well” and there was no change to plan. The shift came as HMV revealed a 13.6% like-for-like sales fall at eponymous stores and plans to shut 60 shops.