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Game Group ‘Encouraged by sales trends’

The pc and video games retailer has issued its Interim Management Statement for the period to 4 December 2010.

CITY & CORPORATE

Game Group ‘Encouraged by sales trends’

Peter Lewis, the Chairman of GAME, 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.
 
For the 44 weeks to 4 December 2010, total Group sales were down by 8.8%. Like for like (lfl) Group sales for the same period were -7.9%. In the UK and Ireland, total sales were -14.7% and lfl sales were -12.2%. In our International business, total sales were up 1.2% and lfl sales were -1.5%. Our Online operations held firm with sales up 0.1%.
 
For the 18 weeks to 4 December 2010, total Group sales were down by 7.8%. Group lfl sales for the same period were -4.6%. In the UK and Ireland, total sales were -11.1% and lfl sales were -7.6%. In our International business, total sales were -2.4% and lfl sales were up 0.5%. Online sales were -1.4%.
 
As a key element of our value offer, preowned sales continue to grow as increasing numbers of customers realise the value that it offers.  It will now represent approximately 25% of our sales mix (2009: 21%) over the full year.
 
Programmes to drive better performance in France and Australia are on track and we are seeing improvements as each business grows its market share. 

We are operating from 1,319 stores as we approach Christmas.
 
We also continue to progress our multi-channel proposition. A new IT platform which connects our businesses across all distribution channels is now in place and we expect to see the full benefit of this next year.
 
Outlook
 
As we enter the key Christmas period, we have seen some positive indicators in the market. Strong and innovative products are launching well, there is a record installed base of consoles in each of our territories(3), and customers are responding positively to our specialist offer.  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.  Our most significant weeks are still ahead of us, historically representing over 25% of our annual revenues, and every part of our business is primed to deliver everything our customers need.

Steve Wind-Mozley, Ecommerce Director at Game Group will be a pannellist at The Retail Bulletin Multichannel Summit, to be held in London February 2nd 2011. The event is sponsored by k3 retail and will look at how retailers can maximize profits, market share and loyalty through cost effective, seamless, integrated multichannel strategies.
If you would like to attend as either a delegate or Networking Partner, go to www.retailbulletinconferences.com/multichannel2011

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