HMV may gain from WOOLWORTHS' demise

HMV Chief Simon Fox said the music and book retailer stands to benefit from the collapse of Woolworths this Christmas. The company is positioning itself to take over as much as possible of Woolworths' share of the entertainment market, and also said it has the edge over rivals who were supplied by EUK, the troubled retailer's wholesale CD and DVD business. Fox said HMV is confident of having the latest albums and films on its shelves because the retailer buys the majority of its stock directly from manufacturers, while rivals including Zavvi and Borders were supplied by Woolworths' EUK division. Despite Woolworths starting a closing-down sale, Fox said he was confident this would not dent HMV's Christmas trade significantly because the stricken chain has not been receiving the latest releases since going into administration last month.

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