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Retail

GAME sees 90% sales jump this Christmas

GAME sees 90% sales jump this Christmas

Wed 15 Jan 2014 10:39am GMT / 5:39am EST / 2:39am PST
Retail

UPDATE: GAME planning £300m IPO later this year, according to reports

According to reports, retailer GAME is planning an IPO later this year.

Sky News said that the chain will appoint HSBC, Canaccord Genuity and Liberum Securities to manage the £300 million flotation.

"The chain really outperformed the market, which should provide a solid platform for it to go public," a source close to GAME told Sky.

Original story

UK retailer GAME has reported a 90 per cent year-on-year growth in like-for-like sales for the six weeks ending January 4, putting the impressive jump down to the arrival of next-gen.

"This strong overall performance for our second peak trading period was driven by our ability to capitalise on the hugely successful launches of Microsoft's Xbox One and Sony's PlayStation 4," chief exec Martyn Gibbs told MCV.

"This was supported by the release of well-received new games, significant growth in online and digital sales and the continued success of our pre-owned games offering."

Online sales went up by 213 per cent, while total sales were up by 83 per cent. Gibbs added that staff training and store improvements had also helped in the run up to the new consoles launching. Gibbs recently made an appearance at the London Games Conference in November, where he told attendees the retail chain was hiring an extra 4,500 temporary staff to face the Christmas rush.

"We are continuing to invest in our digital delivery and expect to see revenue from digital content increase significantly in 2014 and beyond. Our brand strength and position as a hub for the gaming community leaves us well placed to benefit from both trends."

At the London Games Conference Gibbs also said two million customers had purchased digital content from GAME, and 75 per cent of those had not used a credit card.

4 Comments

Phil Hindle Technical Director, FreeStyleGames

19 37 1.9
Can someone explain to me why GAME can add value in a digital distribution model?

Posted:10 months ago

#1

Bruce Everiss Marketing Consultant

1,692 594 0.4
Selling mobile phones and secondhand stuff?

Posted:10 months ago

#2

Morville O'Driscoll Blogger & Critic

1,611 1,473 0.9
Can someone explain to me why GAME can add value in a digital distribution model?
By learning from the console players, and pricing downloads higher (sometimes laughably so) than physcial discs. A random example:

http://www.game.co.uk/en/Sid+Meier%27s+Civilization+V+Gold+Edition-208854?cm_vc=Cat_1

£12.00 for the retail disc, and £29.99 for the download (which is just a Steam key). Two-and-a-half-fold increase for something which has less costs associated with it? Why, no wonder they're making a profit again.

Edited 2 times. Last edit by Morville O'Driscoll on 15th January 2014 2:54pm

Posted:10 months ago

#3

Alfonso Sexto Lead Tester, Ubisoft Germany

833 668 0.8
The magic of the pre-paid cards :)

Posted:10 months ago

#4

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