HMV strategy sees profit boost - graduate jobs

HMV has seen an 18 per cent increase in profits thanks to a strategy surrounding live music, new products and an overhaul of book chain Waterstone's.

The "three pillar" plan has seen the group branch out into selling Blu-Ray discs, mobile phones and fashion.

After the group's recent success retail graduates may also be attracted to starting a career with the flourishing group.

Its future in the live music market was secured when HMV took control of festival and gig venue owner MAMA Group.

It's revival of Waterstone's saw the group sell almost one million e-books through its website and strengthen its focus on attracting local customers.

The music and games firm posted pre-tax profits of £74.2 million for the year to April 24, up from £63 million, although current trading has suffered slightly due to the World Cup.

Chief executive Simon Fox said the retailer's three-pronged approach was on track so far.

"We are no longer a one-dimensional retailer facing rapidly changing product markets," he said.