GAME Shares Plummet 91% Since January
Price tumbles dramatically since sales target downgrade.
Special retailer GAME has seen its share price plummet by a whopping 91 per cent since January, according to fresh reports today.
Last Wednesday, the company issued a statement that announced a downgrading of its revenue targets for the year. Shares have fallen from 14.025p to 6.62p since then, but what's most alarming is that at the start of the year GAME was rocking 70p a share.
Before its downgrade, the retailer predicted a full year like-for-like sales decline of between -3 per cent and flat, but the news that it now expects a -7 per cent decline has clearly rocked investor confidence, despite GAME stating that it is currently out-performing the UK market.
GfK Chart-Track recently revealed that games retail was having a very tough year, announcing that the sector had seen the worst sales performance in a decade.
Last Wednesday, the company issued a statement that announced a downgrading of its revenue targets for the year. Shares have fallen from 14.025p to 6.62p since then, but what's most alarming is that at the start of the year GAME was rocking 70p a share.
Before its downgrade, the retailer predicted a full year like-for-like sales decline of between -3 per cent and flat, but the news that it now expects a -7 per cent decline has clearly rocked investor confidence, despite GAME stating that it is currently out-performing the UK market.
GfK Chart-Track recently revealed that games retail was having a very tough year, announcing that the sector had seen the worst sales performance in a decade.
Companies:
Game
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