They say it’s the first 90 days of any new business or job that really tests its leader.
Coincidentally, when GAME detailed its interim financials last week, it was 90 days exactly since new CEO Ian Shepherd stepped in to replace Lisa Morgan, who left in April.
So talk about thrown in at the deep end – no sooner had Shepherd started and GAME was already in pre-results lock down.
And understandably so: the results weren’t brilliant. In the UK and Ireland, total sales were down by 17.8 per cent and like for like sales were down by 16.2 per cent – but nevertheless in line with the market shrinkage.
For the half-year to July 31st the Group’s revenue was down 9.6 per cent to £624.6m compared to £690.8m the year previously, with like for like sales down 10 per cent.
So while GAME isn’t failing, it has borne the brunt of the market’s very mixed, changeable fortunes...
To read the full feature, click here.