Pre-owned games will become a bigger focus for GAME as price wars on new products have seen its profits dwindle.
The retailer revealed that for the 44 weeks ending 4th December 2010, like-for-like group sales had fallen 8.8 per cent and its UK sales were even worse, down 14.7 per cent. Online sales remained at 0.1 per cent and international sales saw growth of 1.2 per cent, but the company is naturally a bit "cautious" overall.
Supermarket price wars have cost GAME some of its profit share as it tries to compete, and the company blamed its sales drop on the performance of hardware and casual gaming software.
GAME chairman Peter Lewis said, "We have been encouraged by the like-for-like sales trends we have seen since the half year. The difficult market has benefited from a strong launch schedule of new software titles and peripherals, and we have remained committed to our focus on market share.
"However, the ongoing weakness in the market performance of hardware and casual gamer products means that we are maintaining our cautious outlook for the remainder of the current financial year."
There seems to be a positive in the firm's pre-owned sector, with 25 per cent of its sales owing to second hand goods this financial year. Lewis added that the company will be putting a greater emphasis on its 'value' strategy - likely in a bid to recoup some of those lost profits.
Via MCV
The retailer revealed that for the 44 weeks ending 4th December 2010, like-for-like group sales had fallen 8.8 per cent and its UK sales were even worse, down 14.7 per cent. Online sales remained at 0.1 per cent and international sales saw growth of 1.2 per cent, but the company is naturally a bit "cautious" overall.
Supermarket price wars have cost GAME some of its profit share as it tries to compete, and the company blamed its sales drop on the performance of hardware and casual gaming software.
GAME chairman Peter Lewis said, "We have been encouraged by the like-for-like sales trends we have seen since the half year. The difficult market has benefited from a strong launch schedule of new software titles and peripherals, and we have remained committed to our focus on market share.
"However, the ongoing weakness in the market performance of hardware and casual gamer products means that we are maintaining our cautious outlook for the remainder of the current financial year."
There seems to be a positive in the firm's pre-owned sector, with 25 per cent of its sales owing to second hand goods this financial year. Lewis added that the company will be putting a greater emphasis on its 'value' strategy - likely in a bid to recoup some of those lost profits.
Via MCV
Companies:
Game
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Comments
irritant 8 Dec 2010 10:36
1/1
And as Game steals more money from developers, it hammers the nails further into it's own coffin.