HMV reports Christmas sales slump

Troubled retailer HMV has reported a sharp fall in sales for the Christmas period but noted a slowing in the decline of its music and film business.

Like-for-like sales, which strip out the effect of shop closures, fell 8.1% in the five weeks to the end of the December. Total sales were down 16.6%.

The group also reiterated concerns about its ability to continue trading in its current form.

Last month, it warned it may be forced to sell its live music business.