{"id":48365,"date":"2013-10-25T14:35:47","date_gmt":"2013-10-25T12:35:47","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=48365"},"modified":"2013-10-25T14:40:41","modified_gmt":"2013-10-25T12:40:41","slug":"musica-turnover-slides-amid-store-closures","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/media\/48365\/musica-turnover-slides-amid-store-closures\/","title":{"rendered":"Musica turnover slides amid store closures"},"content":{"rendered":"

Clicks Group<\/a>\u00a0has\u00a0reported\u00a0that its music and entertainment retailer,\u00a0Musica<\/a>‘s turnover declined marginally as it\u00a0continued to reduce its footprint.<\/p>\n

Overall, Clicks Group reported a 13.6% increase in turnover to R17.5 billion for the year to August 2013,<\/p>\n

Diluted headline earnings per share increased by 9.2% to 298.6 cents and the total dividend was increased by 10.5% to 168 cents per share.<\/p>\n

Operating profit increased by 9.1% to R1.1 billion.<\/p>\n

Musica however, saw a decline in turnover to R862 million, from R872 million in 2012, while the group\u00a0closed 16 stores, but also opened two during the reporting period.<\/p>\n

The number of stores at 31 August 2013 stood at 120, from 134 in 2012.<\/p>\n

Clicks chief executive, David Kneale said: “Musica continued to gain market share in CDs and DVDs, despite the net closure of 14 stores. The brand\u2019s comparable store sales increased by 5.9%.”<\/p>\n

South African music stores have been hit by the launch of a number of online services led by\u00a0Apple\u2019s iTunes Store at the beginning of the year.<\/p>\n

SA music retailer\u00a0Look & Listen<\/a>\u00a0aims to re-launch its digital music store before Christmas as it ties up negotiations with various suppliers.<\/p>\n

Musica pointed to good growth in technology, contributing\u00a0\u00a013.9% towards total turnover.<\/p>\n

\"Musica<\/a>

Musica Performance<\/p><\/div>\n

Discussing the outlook for the year ahead, Kneale said the current weak consumer spending environment is expected to continue. \u201cTrading over the important festive season will therefore be critical to performance in the year ahead,\u201d he added.<\/p>\n

More on Musica<\/h3>\n

Musica hit by store closures<\/strong><\/a><\/p>\n

Musica bullish despite iTunes arrival<\/a><\/strong><\/p>\n

Look & Listen more than brick and mortar: CEO<\/strong><\/a><\/p>\n

What iTunes means for SA\u2019s brick and mortar<\/strong><\/a><\/p>\n

iTunes launches in SA<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Clicks Group has reported that its music and entertainment retailer, Musica’s turnover declined marginally as it continued to reduce its footprint.<\/p>\n","protected":false},"author":10,"featured_media":36625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5554],"tags":[6905,4268,26,4638,4782],"class_list":["post-48365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media","tag-apples-itunes-store","tag-clicks","tag-headline","tag-look-listen","tag-musica"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/48365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=48365"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/48365\/revisions"}],"predecessor-version":[{"id":48383,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/48365\/revisions\/48383"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/36625"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=48365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=48365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=48365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}