The record store you once called Virgin Megastore - Zavvi, obviously - has reported it had a good Christmas with sales up 10.8% on the previous year, though that shouldn't be interpreted as a good start to the year for high street music sales. Gaming and DVDs and all that jazz accounted for the increase, with music sales down 11.6%. The decline in music revenues was put down to a combination of a "weak release schedule" and "price deflation" of chart albums. Despite that decline, the retail chain says it remains optimistic about its music sales, with sales of catalogue CDs up overall in the last quarter of last year, plus online sales on the rise and major releases from Oasis, Madonna, Coldplay, U2 and Razorlight expected to each deliver a boost to high street sales later this year.
Jan 10, 2008
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1 min read
Zavvi upbeat despite decline in Christmas music sales
Zavvi reports Christmas sales up 10.8% overall, though music sales fell 11.6%, and remains optimistic about upcoming major releases.