Music and books retailer HMV said today it was confident profits for the full year would be in line with restated analyst expectations.
The group, which issued a profit warning in March, said it had struggled during recent weekends as hot weather kept shoppers off the high street.
The Arctic Monkey's new release should boost sales for HMV. Image Yui Mok/PA.
But HMV's chief executive Simon Fox said he was hopeful new releases such as the latest album from the Arctic Monkeys and the last Harry Potter book would help sales.
HMV, which runs Waterstone's bookstores as well as music shops under its own name, is battling cut price competition from supermarkets and online retailers as well as a decline in physical music markets as downloading takes hold.
The group said the market was forecasting a profit for the year to end-April at about £48 million.
Total group sales for the full year fell by 2 per cent at constant exchange rates, including a 3.5 per cent decline in stores open for more than a year.
Group sales on a like-for-like basis fell 3.9 per cent in the last 16 weeks to April 28th, pulled down by HMV stores in Britain and Ireland - which recorded a 2 per cent fall in that period and Waterstone's which fell 7.3 per cent.
It announced the details of its three-year turnaround plan in March that will focus on "interactive" HMV stores.
Under the plan, shoppers will be able to log on to a new social networking site for music, film and games enthusiasts, with content provided by Universal Music and 20th Century Fox.
They will also be able to burn their own CDs and pay to play on the latest games consoles. It will unveil the "store of the future" trials in two shops this summer and if successful will role out across the country after Christmas.