News
GAME's Xmas sales to outstrip forecasts
Neil Long Jan 2 2008, 10:52am
Comments (6)
Retailer expects profits for the year ending January 31st to hit £70m
GAME’s success over the Christmas period has been confirmed by a further trading update, explaining that profits before non-recurring costs and tax will now be ahead of expectations at “no less than £70m”
This marks an enourmous leap from 2007’s trading performance, when profits for the year stood at £29.5m.
GAME also confirmed that non-recurring costs are expected to be around £8m, while the costs to the Group of complying with the requirements of the Competition Commission inquiry are anticipated to be around £4.5m in total, plus a non-recurring charge of approximately £3.5m, related to integration connected with the acquisition of Gamestation.
A full report on GAME’s Christmas trading performance for the six weeks up to January 12th is expected on January 15h.
Comments
“w00t”
Posted by: ChoZanWan - Jan 2, 3:53pm
Let's hope that this passes on to the staff, eh?
“All thanks be to...”
Posted by: Zed Zee - Jan 2, 4:05pm
...the new console generation, especially Nintendo and Microsoft's units and their respective software sales.
Sony could've boosted GAME's fortunes even further, had they not been so arrogant and stubborn with their pricing (lack of) policy.
“Re: All thanks be to...”
Posted by: starwars - Jan 2, 6:00pm
"Lets hope that passes on to the staff, eh?"
Not a chance in hell, GAME never reward the staff at shop floor level for all the hard work that makes the companies profits happen.
Which is why, after several years service, I left.
“Re: All thanks be to...”
Posted: Jan 3, 7:35pm
lol id love to work there...quit complaining! theres plently of us doleys that would take the job even if it only paid £3 an hour!
“Re: All thanks be to...”
Posted by: John - Jan 3, 9:35pm
Nice profit there. Big bonus for the directors I bet.
“Re: All thanks be to...”
Posted: Jan 4, 12:14pm
shame they cant use it to lower their prices and become more competitive with play.com...