GAME sales up by over 50% this year

Nintendo shortages have impact though

3 July 2008 15:06 GMT / By Verity Burns

GAME has issued sales data for the first half of 2008 that shows the group's sales have risen by 54%, with like-for-like sales up 24.8%.

Performance in the UK and Ireland is leading the group with sales up 58.2% and like-for-likes 28.1%, however international like-for-likes have struggled slightly due to Nintendo hardware and software shortages.

"Our International business is performing strongly albeit the like-for-like performance is slightly lower than the UK and Ireland primarily due to insufficient supply of Nintendo product particularly in Spain," said Peter Lewis, chairman of the retail chain.

Total international sales for the six months ending June 28th were up 43.9 per cent, with like-for-like sales 16.9 per cent.

"The PC and videogames market has continued to grow strongly in this period and I am pleased to report that GAME is performing slightly ahead of our expectations for the first half of the year," added Lewis.

This has been announced ahead of today's Annual General Meeting. Other items on the agenda include details of the integration of former-rival Gamestation into the company (apparently all going to plan and is expected to generate £7m this financial year), and the appointment of Google MD Dennis Woodside to the board.

GAME expects to open around 60 new stores before the end of the year, mostly in international regions, and it will continue to buy-in or close down existing franchises.

It certainly seems like the hard work is paying off. The increase in sales means the company is expecting no less than £33 million in profit before tax for this six months alone.

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