Lewis: The pace of change is accelerating

Peter Lewis, the outgoing chairman of retailer GAME, has insisted that the chain remain competitive and is in a strong position despite falls in both sales and profit in the last financial year.

Key for GAME is the fact that it held or increased its market share in all territories in which it operates.

"Our Group has seen significant changes over the last 12 months," he stated. "With a new chief executive in place and a new strategy underway, we are making good progress in difficult markets. We are building on our leading high street retail strengths to establish leading positions in all the channels that people use to play PC and video games.

"Our existing skills, which are built on twenty years of experience and knowledge from over 17m customer relationships, help us to understand changing consumer demands and put us in a strong position to build for the future.

Lewis also noted the challenge posed by both digital games sales and the growing free-to-play casual games space.

"Digital downloads and social gaming products have continued to gain in popularity," he noted. "The pace of change is accelerating as new products are launched, and as developers and publishers seek the most effective ways to reach consumers."

As might be expected, Lewis also highlighted its strength in the pre-owned sector and insisted that it is executing its strategic objectives.

"Our markets remained competitive and value was critical to customers, so our strong pre-owned offers and market leading deals helped us to maintain market leadership," Lewis insisted.

"Across all of our territories, the markets in which we operate continue to be tough, but we have been able to outperform through our strength in preowned and our success in launching new products.

"We are making progress delivering our strategic plans. We have outlined clear indicators to measure our progress and are pleased with the actions taken on our portfolio of stores, the expansion of our own brand product range and, in particular, the increasing sales of digital and online products. We have more work to do, and we have robust plans in place.

"Our industry is driven by innovation, and we expect improvements when new products are announced. This, together with our existing business model and the delivery of our clear strategic plans, means the Group is well positioned to face the ongoing challenges in the retail environment."

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