U.K.-based Game Group saw “encouraging signs” during the holiday...
U.K.-based Game Group saw “encouraging signs” during the holiday season at the end of “a difficult year” for PCs and videogames, Chairman Peter Lewis said Thursday. Those signs suggested that consumers “are still looking for exciting products at reasonable prices,”…
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he said. Customers also “continued to shop” at Game stores despite bad weather, he said. Same-store sales fell 2.1 percent across the retailer’s business the five weeks through Jan. 8 and 0.5 percent in the U.K. and Ireland, it said. Game predicted that its profit before tax and exceptional items will come in at 37 million-39 million pounds sterling for the year ending Jan. 31. The “trading environment” will “remain challenging in 2011,” despite “innovative launches” of products including the Nintendo 3DS and additional Kinect for Xbox 360 and PlayStation Move games, Lewis said. There will be “further innovation in existing formats as well as social and mobile gaming, and a growth in digital and online distribution,” he said. Because of that, he said, “we recognize that we need to evolve our business and deploy our strengths in new areas if we are to enhance our position as the market leader.” The retailer plans to report April 27 preliminary results for the fiscal year.