Huge Xmas sales leap at GAME

Ben Parfitt
A strong Christmas has topped off what has been a bumper year for UK High Street retailer GAME.

For the six weeks ending January 12th, total group sales including those from acquired rival Gamestation were up by 76.3 per cent compared to the same period last year. Like-for-like sales increased by 31.9 per cent.

UK and Ireland figures for the period saw total sales increase by 77.9 per cent and like-for-like sales jump by 30.3 per cent.

For the 50-week period ending January 12th, total group sales increased by 86.7 per cent with like-for-like sales rising by 41.7 per cent. UK and Ireland total sales grew by 89.6 per cent and like-for-like by 42.9 per cent.

Chairman Peter Lewis said of the results: “The Group has delivered an outstanding Christmas sales performance particularly given the very strong comparatives for the prior year period when the Nintendo Wii launched.

“The management team and all of our employees have done an excellent job in delivering a market leading performance for the third consecutive Christmas.

“Our customer demographics are changing, with more women and mature gamers buying products than ever before. Our strategy of evolving our specialist proposition to meet the demands of these customers has driven our record growth.”

The retailer also stated that it expects a fourth year of consecutive growth in 2008, thanks to the strength of all five formats currently on the market. It also foresees that supplies of DS and Wii will improve.

It also added that it expects the Competition Commission’s final report on its approved acquisition of Gamestation to be published by January 23rd.

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Tags: GAME , game 2007 financials , game financial results

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