HMV in further profits warning

By March 13, 2007Music

I have written before about how Chris Anderson’s long tail theory is playing out well for music lovers, but not for UK record stores.  Subsequently I posted that HMV was one of the most shorted stocks in history.

This morning I read on the FT that they issued a further profits warning that sent shares down 12% in opening trading this morning.  Profits are now forecast at £50m.  Analysts had previously been projecting £61m

I can’t link to the FT article because of their DRM.