HMV in further profits warning
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.
