Confident GAME reveals soaring sales

Leading specialist retailer GAME has revealed its sterling market performance in its latest trading statement for the 22 weeks to June 30th 2007.

Alongside the total Group sales rise of 74.1 per cent, like for like sales, excluding Gamestation, were up 45.6 per cent.

Total sales in the UK and Ireland were up a stunning 71.1 per cent, with like-for-like sales boosted by 46.6 per cent.

In international terms, total sales were up 82.8 per cent and 42.6 per cent like for like.

The retailer also pledged to open 50 additional stores by Christmas, the majority of which will be outside the UK.

“The PC and video games market has grown strongly in this period and I am pleased to report that GAME is performing in line with our expectations for the first half of the year,” said chairman Peter Lewis.

“Consumer demand remains strong for all formats, particularly for the Nintendo Wii. However, the UK trading environment in particular continues to be very competitive with retailers expanding their PC and video games offer to capitalise on the growing market.”

“As we said in April, the higher volumes of new generation platforms will increase hardware participation in the sales mix for the year to January 2008.”

“We look forward to the second half of the year and the key Christmas trading season with an unprecedented range of products available. We will continue our expansion and grow our existing portfolio of 1,065 stores with up to 50 additional stores opening by our key Christmas trading period. The majority of the store openings will be outside of the UK.”

“On 2 May 2007 we acquired Gamestation,” added Lewis. “As anticipated at the time of the announcement, to satisfy the regulatory process The Office of Fair Trading is reviewing the transaction, and we anticipate that this initial review will be completed by the end of July.”

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