The DVD and music retailer will refit 10 to 15 stores this year, and open five new shops with the same design. The retailer has, however, engineered the costs of the refit down from£100 per sq ft to between£50 and£60.
HMV chief executive Simon Fox said: “Our new-generation stores are performing ahead of expectations. As we have managed to bring down the costs, we can forge ahead with the roll-out.”
The entertainment retailer revealed group sales up 11.9 per cent for the 16 weeks to April 26. At HMV UK and Ireland, total sales growth was 18.4 per cent and at Waterstone’s 3.4 per cent. Like-for-like sales growth for HMV UK and Ireland was 13.8 per cent and at Waterstone’s it was 6.6 per cent.
Broker Investec said the sales performance, driven primarily by HMV UK, was stronger than had been expected and its confidence in the retailer’s ability to deliver over the medium term has increased.