HMV overtakes Amazon to become the UK’s biggest seller of physical music

Two years ago, British high-street retailer HMV was staring bankruptcy in the face. It was subsequently picked up by administration specialist Hilco, which immediately set about reversing the company’s fortunes. As a result of cost-cutting measures, HMV was forced to sell its iconic Oxford Street store and place a renewed focus on what made it popular: selling music. It certainly seems like it’s paid off, because the company has just reclaimed the number one spot as the UK’s biggest seller of physical music, overtaking Amazon in the process. CityAM reports that the company’s vinyl sales reached their highest level in over 20 years, jumping 170 percent over the past year. And in the two weeks leading up to Christmas, it was responsible for selling one in every three CDs and DVDs in the UK.

Read the full story: Engadget