Vinyl, Cassettes & Retail

Virgin MegaStores Sales Up Surprising 11.5%

Virgin_megastore_logo_fnd6 Against the backdrop of a challenging U.S. marketplace Virgin
Megastores achieved one of the most successful years the U.S. chain has ever had. Sales for the fiscal year ’07 were up 11.5% nationally on a same store
basis and up more than 10% in the NYC market. The chain’s five
largest stores had double-digit growth last year; with Orlando up 24% and the west coast flagship Hollywood
store up 21%.

Diversification has been a major. In 2007 DVD sales were
up 13.9%, fashion sales up 35.5%, video games up 93.9%, and book sales
up 19%.

Virgin Megastores is also increasing thier online activities with a new retail website (www.VirginMega.com), a Social Media Online Newsroom (www.VirginMegaMashup.com), a customer feedback online Bulletin Board (www.VirginMegaMashup.com/board) and a popular Blog that discusses the entertainment and fashion industry as well as upcoming artist events.

Bruce Houghton on 04/08/2008 in Vinyl, Cassettes & Retail | Permalink | Comments (0)
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