Toy R US, Argos hit by poor game sales
Retailers blame slow demand for systems and software in Q2
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Retailers on both sides of the Atlantic have blamed poor sales of videogames for weak financial results in the second quarter.
In the US, Toys R Us singled out a slowdown in the sale of videogame systems in the entertainment sector, alongside fewer new releases. Sales in its Entertainment category were down 9.4 per cent to $248.8 million. (£160.9m)
In the UK, Home Retail Group reported total sales down 2.8 per cent at catalogue store Argos, to £924 million ($1.4bn), with like-for-like sales down 5 per cent. The drop was blamed on videogames and large ticket home items, although computers and toy sales were up.
Last week entertainment retailer HMV cited "weak" sales of videogames for a 15 per cent decline in like-for-like sales.