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Retail

GAME CEO: "I have all the cash I need"

GAME CEO: "I have all the cash I need"

Mon 12 Nov 2012 2:06pm GMT / 9:06am EST / 6:06am PST
Retail

Martyn Gibbs on getting the retailer through the holiday period

Martyn Gibbs, CEO of GAME, has reassured a national paper that the retailer is doing well in the run up to the all-important Christmas period.

“I have all the cash I need to trade through peak [period]. There has been nothing that I tabled that I didn't get investment for. I can't ask for more,” Gibbs told The Telegraph.

He added that the company, which was bailed out by OpCapita in March, was in “good shape” and aiming for £20 million in earnings for the year ending July 2013.

“I would rather we had it, but have managed without it,” He said of credit insurance, something which GAME is currently lacking and which recently caused problems for electronics retailer Comet. The chain, also owned by OpCapita, recently entered administration.

“We will hopefully achieve it sometime in the future. But, we have never factored it in.”

5 Comments

Craig Page Programmer

385 220 0.6
I don't understand why these game stores struggle, the competition from video/game rental stores is all gone now that they're all bankrupt, and downloadable console games from Microsoft and Sony NEVER see a price drop.

Posted:2 years ago

#1

Morville O'Driscoll Blogger & Critic

1,611 1,472 0.9
They're still pretty expensive when compared with Amazon, and the economy (certainly in the UK) is horrendous.

I wandered into the local High Street Game and wandered out 2 minutes later. Why? I do my PC games buying either on Steam and GMG, or on Amazon. I buy my console games either on Amazon or second-hand at CEX. I don't have much time to game, since I do other things with my life, both related and unrelated to the industry, and as such I like to spend the least possible amount of money on games, or have the highest convenience factor when purchasing. I get the feeling most actual gamers are like myself in that sense.

Where Game will make money is in the Christmas gifting period, but even then Amazon will probably take the lion's share of purchases. I still don't rate Game's chances at lasting any amount of time.

Posted:2 years ago

#2

Alex Bunch Proof Reader, ZiCorp Studios

94 106 1.1
Also the customer service in Game is utterly appalling. They are either trying to sell you something you didn't ask for or want or are so enthralled in their conversations that you have to wait around to be served. Customer service is the ONLY thing retailers have over buying online. If they can't get that right they don't deserve anyone's custom.

Posted:2 years ago

#3

John Bye Senior Game Designer, Future Games of London

484 455 0.9
Not sure if it's changed since they went into administration, but in the past even Game's own website often undercut their in-store prices by a couple of quid. They also became overly dependent on pre-owned, and the scale of the clearance sale when they went into administration suggests they'd built up a huge surplus stock of old, unwanted games like five year old FIFAs and second rate shooters, which they were struggling to shift and which had little or no actual value today, whatever the original trade-in value of the game might have been.

Posted:2 years ago

#4
Yeah when i worked at GS we had customers constantly asking why our prices weren't the same as online - and we didn't really know as it felt like they were tripping up their shops on purpose.
Upstairs there were piles upon piles of - as you say - unwanted games and they would also put the price of games up on launch day by a few quid just to make that bit extra.
Which is all well and good from a financial viewpoint but the customers notice and vote with their feet.
The customaer service is pushed so hard by the higher-ups that it becomes customer disservice too as many get neglected due to staff having to fo through the 5 steps of selling blah blah blah or face getting it in the neck from your boss who - lovely though they may be - is also being monitored constantly by emails from head office delivered to the in-store computer every few minutes asking why there aren't any preorders or warrantys today.

I really don't want to see high street retailers go and i don't theink they ever fully will but they need to radically change to match the benefits of online sales and tesco (CoD BlOps 2was £25 yesterday in there apparently!)

Posted:2 years ago

#5

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