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Woolies reports slow music sales. (News).

Music Week

| June 01, 2002 | Williams, Paul | COPYRIGHT 2002 UBM Information Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Woolworths entertainment head Alan Young blames a "quiet" release schedule for disappointing music sales, as the chain's parent group unveiled flat like-for-like sales during the start of 2002.

The group's share price tumbled 5 1/2p to 44p last Wednesday after group chairman Gerald Corbett revealed Woolworths Group sales rose 5.8% from 586m [pounds sterling] to 620m [pounds sterling] in the first 15 weeks of the year, but were flat on a comparable basis.

In the main, Woolworths chain sales fell 1% as a result of a weak performance in the chain's 116 city centre stores, which were down 3%. Young, who heads its strategic ...

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