MUSIC retailer HMV Media could confirm plans to float on the stock market later this week after another strong quarter of trading.

Sales at HMV have continued to climb and its book business Waterstone's has continued to improve.

The privately-owned group has made no secret of its intention to go public as long as market conditions are right and the business is trading well.

The group, which has 522 stores worldwide, is due to publish its third-quarter figures in the UK before the weekend.

A filing with the US Securities and Exchange Commission last Thursday shows that trading has remained strong across the group.

HMV Media has to file figures in the US because part of its £347.6m debt is listed on the American market.

In the 13 weeks to January 26, the group's total sales rose 8.7 per cent to £594.8m with like-for-like growth, which excludes new stores, of 8.1 per cent.

Like-for-like sales at HMV were up 9.1 per cent on the back of an "exceptional performance" by HMV Europe while Waterstone's recorded a 5.2 per cent gain.

Operating profits, before exceptionals and depreciation, were up by £11.1m to £85.6m.