News
GAME to invest £5m online this year
Tim Ingham Apr 29 2008, 10:28am
Comments (2)
Turnover from retailer’s websites increases 147 per cent as online sales hit £58 million
GAME CEO Lisa Morgan has pledged to spend £5 million on the retailer’s increasingly successful web offerings this year.
In an interview with financial news site Cantos, Morgan revealed that FY online sales hit £58 million for the financial year ended January 31st, 2008.
The retailer revealed this morning that online year-on-year turnover and operating profit were up 147 per cent and 61 per cent respectively.
Morgan said:
“First and foremost, we’re very focused on our multi-channel offer, and we’ve invested considerably in that over the last couple of years. We trade through three online brands: GAME, Gameplay and now Gamestation.
“We relaunched our GAME website in September last year and we saw some terrific results come from that. Not only did we see our customer conversion improve, but we saw it translate directly into performance in terms of revenues.
“All in all, we’ve seen our sales grow from £4 million in 2003 to £58 million in 2007. We certainly plan to invest in this area, and I think we will invest around £5 million in the current year.”
To view GAME's full year 2007-2008 fiscal results, click here.
Comments
“its monopoly money!”
Posted by: Paul Cutts - Apr 29, 3:28pm
spending there ill gotten gains i see.
Ive just come from gamestation where all the 360 titles are now £5 dearer or the same price as they are in game.
So much for nothing changing and no monopoly on prices.
Im writing to the DTI complaining as we speak ..
If they have made record profits then why are 360 games now £45 where they were £40 3 months ago, costs have gone down and sales up so there is no justification other that theyarenow abusing a monopoly on high street game retailing, i wont stand for it. the DTI were negligent in allowing it te conditions they set have bee bokn and they have done nothing. GAME just boast about more profits and sales.
“Re: its monopoly money!”
Posted by: T Bag - Apr 29, 3:51pm
It's a very good point but I feel the fight is one that will be too complex to win. Best thing to do is vote with your feet and encourage everyone to do the same. Your local Indie or Internet retailer can offer ALL of the same services GAME does so shop their instead...