Budget tax hikes force HMV to pause UK expansion

HMV has put its UK expansion on hold and will instead open new stores in Ireland and Belgium, citing rising wage costs set to take effect next month.
Phil Halliday, MD of the entertainment retailer, said the company had hoped to open up to 10 more UK stores this year but had to pause those plans as it worked to maintain profitability despite strong sales growth.
Sales rose 6.5% to £189.6m in the year to 30 May 2024, driven by the reopening of its Oxford Street store in London and a resurge