GAME to invest £5m online this year

GAME CEO Lisa Morgan has pledged to spend 5 million on the retailer’s increasingly successful web offerings this year.

In an interview with financial news site Cantos, Morgan revealed that FY online sales hit 58 million for the financial year ended January 31st, 2008.

The retailer revealed this morning that onlineyear-on-year turnover and operating profit were up 147 per cent and 61 per cent respectively.

Morgan said:

First and foremost, we’re very focused on our multi-channel offer, and we’ve invested considerably in that over the last couple of years. We trade through three online brands: GAME, Gameplay and now Gamestation.

We relaunched our GAME website in September last year and we saw some terrific results come from that. Not only did we see our customer conversion improve, but we saw it translate directly into performance in terms of revenues.

All in all, we’ve seen our sales grow from 4 million in 2003 to 58 million in 2007. We certainly plan to invest in this area, and I think we will invest around 5 million in the current year.”

To view GAME’s full year 2007-2008 fiscal results, click here.