Shoppers walk past a branch of HMV, the music and games retailer in London, Wednesday, Jan. 5, 2011. Music and games retailer HMV Group PLC says it plans to close about 60 stores this year following a... more 
Shoppers walk past a branch of HMV, the music and games retailer in London, Wednesday, Jan. 5, 2011. Music and games retailer HMV Group PLC says it plans to close about 60 stores this year following a dismal performance in its key Christmas shopping season. HMV said Wednesday that sales in the five weeks to Jan. 1 fell 13.6 percent on a comparable stores basis in the U.K. and Ireland, and 8.9 percent in Canada, Hong Kong and Singapore. For the full year, HMV said pretax profit excluding exceptional items should be around 46 million pounds ($72 million), at the low end of market forecasts.The company said it expect to close about 60 stores this year and says it has identified 10 million pounds in additional cost savings. less 
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Associated Press | Photo By Alastair Grant
Wed, Jan 5, 2011 9:50 AM EST