Results to date for 2008 show 11.2 per cent like-for-like sales growth; retailer confident of bucking the credit crunch
The UK’s leading games retailer GAME has revealed that its total group sales for the 44 weeks up to November 29th are up 27.4 per cent compared to same period in 2007, with like-for-like sales increasing by 11.2 per cent.
For the UK and Ireland total sales climbed 25.1 per cent and like-for-like sales increased by 11.9 per cent. Internationally, total sales improved by 33.9 per cent and like-for-like sales 9.3 per cent.
For the 18 weeks until November 2008 group sales increased 9.3 per cent and like-for-like sales 1.5 per cent.
“Our portfolio has increased by 183 stores in the year to date and we will operate from over 1,340 stores over the Christmas trading period,” GAME chairman Peter Lewis stated.
“To date, our customers' spending patterns have remained relatively resilient considering the challenges in the wider economy. Our previous guidance is unchanged and the board remains confident of a successful outcome for the year.”
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GAME will report on its Christmas trading on January 13th.
Comments
:O
That's no small feat.
Re: :O
I don't know how they get such excellent sale figures, in my home town we have a Game, Gamestation and Chips and yet Game is always the busiest even though it is the most expensive and least personal games retailer out of them all!
Re: Re: :O
games shop still seem to be really busy i would rather work in a games shop rather than an estate agents, i think the downturn is affecting the smaller retailers like chips as people want to spend with a known high st brand in times of trouble, especially as some chips and other smaller brands seem to be lacking the top games this xmas
Re: Re: Re: :O
We have a chips by us and they seem to have all the latest games in, although some are more expensive than game/gamestations.
Re: Re: Re: Re: :O
It amazes me Game or Gamestation do well financially Game has ALWAYS been expensive with poor customer service and since Game bought Gamestation, Gamestations prices have rocketed and there part exchange rate has plumitted! Go figure!?!
Re: Re: Re: Re: :O
The thing is that with the reduction in the average price of their main lines, they need to be hitting at least that kind of growth to keep pace with their targets, much less exceed them, and this is before you factor in the impact of the current economic downturn
Re: Re: Re: Re: Re: :O
It is obvious that with the reduction in the amount of part ex given and the profit Game and Gamestation make on selling new titles at the cost up to £50 Gamestation and Game are bound to make out like bandits!
Gamestation used to offer £30 part ex on brand new game titles. Now that price has dropped to between £23 to £25 pounds plus the pure profit on re selling part exchange stock (stock that's been exchanged 4 or 5 times or more) its almost hard not to win out. I really can't see any effect from the current economic climate (at the moment) I suppose its cheaper to get a game and stay in.
I'm still stunned that supermarkets aren't hitting Gamestation etc hard just because they keep pulling such great deals out of the bag.
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