Game Group first half on target
Game Group says their first half is in line with expectations and warns that gross margins for the year will be lower.
For the first 22 weeks to 30 June 2007, total Group sales (including Gamestation from 2 May 2007) were up by 74.1%. Like for like (lfl) Group sales (excluding Gamestation) for the same period were up by 45.6%.
In the UK and Ireland, total sales were up by 71.1% and lfl sales were up by 46.6%. In our International business, total sales and lfl sales were up by 82.8% and 42.6% respectively.
‘The acquisition of Gamestation will also impact margins, as Gamestation has traditionally operated on lower margins than GAME. Taken
together, the Board anticipates that gross margin for the half year will be around 230 basis points lower than the same period last year and for the full year will be around 250 basis points lower than last year’ Game said in a statement.
