GAME Group has admitted that trading conditions on the High Street remain “challenging’ – reporting today that total sales rose by 6.3 per cent for the 22 weeks to July 2nd, while like-for-like sales fell by 2.6 per cent.
Chairman Peter Lewis revealed the figures just ahead of the specialist chain’s Annual General Meeting this morning. Total sales in the UK and Ireland were up by 0.5 per cent, while like-for-like sales were down by 5.4 per cent. In continental Europe, total and like-for-like sales were up by 37.2 per cent and 12 per cent respectively.
Ongoing price deflation and a continued lack of strong software releases have contributed to the challenging High Street conditions, said the retailer.
Looking forward, GAME sees continued success for the Nintendo DS, while the launch of Sony’s PSP will benefit its second half, as will its Europe-wide store opening programme. This is on track for 80 new stores this year. Indeed, GAME’s portfolio (including franchises) will exceed 700 outlets by the important Christmas trading period.