As if in a video game, it appears that UK retail is heading for an apocalyptic, dystopian 2009 in which consumers remain at home. Only gamers can save the day!
The British Retail Consortium has issued a statement that reads, "UK retail sales values fell 3.3% on a like-for-like basis, and 1.4% on a total basis, from December 2007.
"By both measures, this was the worst December since the survey began 14 years ago and, barring Easter distortions, the worst performance of any month in that time."
Time to step up then gamers; and if the Game Group's recent figures are to be believed, that's what we've all done.
According to its Christmas 2008 Trading Statement (released this morning), the video game specialist (and also owner of GameStation), for the six weeks ending January 10th 2009: "Total Group sales increased by 16.6%. Group like for like ('lfl') sales were up by 5.4%".
'Like-for-like sales' is a common accounting term in retail. It refers to sales in stores that can be compared to sales in the previous period. Basically it means excluding charges made in refitting stores (that might lower the numbers) or sales made by recent acquired stores.
Game also declares its total sales for the UK and Ireland in the period as up "by 16.3% with lfl sales up by 10.0%".
All that good news is also, however, balanced by caution for the coming year. Game says, "However, given the uncertain macro economic environment both in the UK and internationally, the Board is cautious about the outlook for 2009 and is aware that general economic conditions are likely to deteriorate further.
"Revenue growth for the Group will be challenging and there will continue to be inflationary pressures on costs".
That said, 2008 was a rosy year for the group with the company expecting (after audits) to have made £122m before tax. This compares to £75.5m) in the previous year.
The British Retail Consortium has issued a statement that reads, "UK retail sales values fell 3.3% on a like-for-like basis, and 1.4% on a total basis, from December 2007.
"By both measures, this was the worst December since the survey began 14 years ago and, barring Easter distortions, the worst performance of any month in that time."
Time to step up then gamers; and if the Game Group's recent figures are to be believed, that's what we've all done.
According to its Christmas 2008 Trading Statement (released this morning), the video game specialist (and also owner of GameStation), for the six weeks ending January 10th 2009: "Total Group sales increased by 16.6%. Group like for like ('lfl') sales were up by 5.4%".
'Like-for-like sales' is a common accounting term in retail. It refers to sales in stores that can be compared to sales in the previous period. Basically it means excluding charges made in refitting stores (that might lower the numbers) or sales made by recent acquired stores.
Game also declares its total sales for the UK and Ireland in the period as up "by 16.3% with lfl sales up by 10.0%".
All that good news is also, however, balanced by caution for the coming year. Game says, "However, given the uncertain macro economic environment both in the UK and internationally, the Board is cautious about the outlook for 2009 and is aware that general economic conditions are likely to deteriorate further.
"Revenue growth for the Group will be challenging and there will continue to be inflationary pressures on costs".
That said, 2008 was a rosy year for the group with the company expecting (after audits) to have made £122m before tax. This compares to £75.5m) in the previous year.
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Comments
MRXBOX n VAN BC 14 Jan 2009 07:56
1/1
Wow with 500,000 people / month losing their jobs ( in the USA ), game buying might be put on the back burner ! I myself have mastered XBOXLIVE with 5 #1 leader boards over the years and i haven't bought a new game in 9 months . The main reason being most games are coming broken right out of the box ( patches and more patches ) ! On line is full of Cheaters and Boosters ! And the skill level of games is being Dumb down for Kids with out THUMBS !!! So the game ind. better take a good look at the Car biz , and make sure they dont end up like that !