Game sees UK sales struggle
Video games retailer Game saw its UK sales fall by 10.8% in the 52 weeks to 23 July. Sales in Spain increased by 12.4%.
The results mean that group sales fell by 5% in the period.
Game said market trends experienced in the first half of the year continued into the second half, with a challenging UK trading environment set against good growth in Spain.
Console sales fell in the period although there were sales increases in the company’s accessories, toys-to-life and preowned technology categories.
In response to the decline in the UK market, the business has implemented a plan to improve retail performance whilst driving forward strategic growth initiatives across the group.
Game said it has made considerable progress developing detailed plans for esports and competitive gaming activities in both the UK and Spain. In July, the group opened its first new in-store ‘gaming zone’ concept in the UK at its Trafford Centre store with positive feedback from customers.
Overall, Game expects to report an adjusted EBITDA for the 53 week period to be within the range of current market expectations.
Martyn Gibbs, chief executive of Game Digital, said: “We continue to focus our efforts on maximising the potential of our core retail markets; driving operational improvements and efficiencies across the business; and developing our broader consumer and enterprise gaming services to support deeper engagement with our customers, communities and supplier partners.
“Next year will see several significant industry developments, with new console launches, the arrival of new ground-breaking virtual reality devices, as well as continued strong growth in competitive and social gaming.
“We are well positioned to benefit from these exciting developments and have clear plans in place to drive our retail businesses forward whilst developing our strategic initiatives to support future growth.”
