Game Group now expects its profit for the fiscal year ended Jan. 31 to be at least 74 million pounds before taxes and nonrecurring costs, slightly ahead of the previously forecast 73 million pounds and up significantly from 29.5 million pounds the previous year, the retailer said Monday. It also believes comparable store growth of 5 to 10 percent for the current year is “achievable,” based on results so far in Q1 and thanks to the European launch of PS3 in March 2007, it said. The retailer predicted that its gross margin will improve 0.50 to 1 percentage point this year, “as the proportion of software in the sales mix increases” and it benefits from the recent purchase of the Gamestation chain from Blockbuster. The U.K.’s Competition Commission announced in January that the acquisition of Gamestation had received final unconditional clearance by a close vote (CED Jan 17 p6). Game Group expressed optimism in the “strong pipeline” of products expected to ship in Europe over the next few months, including Nintendo’s Wii game Mario Kart (April 11), Nintendo’s Wii Fit (April 25) and Take-Two Interactive’s Grand Theft Auto IV (April 29). The market for PC and video games products “remains buoyant,” and Game Group is optimistic about the rest of the year, thanks to the “large and growing installed base of hardware in the market, a strong line-up of new product launches, the PS3 yet to reach the first anniversary of its launch and the benefits of a full year of the Gamestation acquisition in prospect,” it said. Game Group plans to release April 29, a week later than originally planned, its preliminary results for the past fiscal year. Late last week, the company announced the appointment of Tricia Brennan managing director of Game U.K. and Ireland, and Martyn Gibbs managing director of Gamestation. Separately, a Borders U.K. spokeswoman said her company was testing PC game sales at its Oxford Street, London, store and was weighing whether to expand into DS and Wii games.
The International Trade Administration has issued the preliminary results of its self-initiated antidumping duty changed circumstances review of certain pasta from Italy.
The International Trade Administration has issued a notice stating that it is postponing the preliminary antidumping duty determinations on lightweight thermal paper from Germany and China by 50 days to May 6, 2008.
Devil May Cry 4 for Xbox 360, in its third week, was again the top-rented videogame in the U.S., according to Rentrak’s preliminary Home Video Essentials data for the week ended Feb. 24. There were no new releases in the top 10. Microsoft, Eidos and Electronic Arts each had two games in the top 10. Microsoft’s were the 360 games Halo 3 at No. 4 in its 22nd week and Lost Odyssey at No. 6, up 13 in its second week. Eidos’s were Kane & Lynch: Dead Men for 360 at No. 5 again in its 15th week and Conflict: Denied Ops for 360 at No. 7, up 16, second week. EA’s were Need For Speed: ProStreet for 360 at No. 8, down two, 15th week, and Burnout Paradise for 360 at No. 10, down two, fifth week. The only game in the top 10 not for Microsoft’s console was Nintendo’s Super Mario Galaxy for Wii, at No. 9 again, 15th week.
The International Trade Administration frequently issues notices on antidumping and countervailing duty orders, investigations, etc. which Broker Power considers to be "minor" in importance as they concern actions that occur after an order is issued, neither announce nor cause any changes to an order's duty rates, scope, affected firms, or effective period, etc.
After years of declining oversight, the online ticket resale industry faces renewed hostility among frustrated parents and state lawmakers thanks to the Hannah Montana concert craze, speakers said Tuesday at a NetChoice Coalition event. But the new wave of laws, ranging from outright bans on scalping to licensing systems for resellers and resale price caps, are boosting ticket prices and hurting sales, said an eBay-commissioned study released at the event. Speakers disagreed on prospects for defeating state restrictions.
The International Trade Administration has issued its final results of the countervailing duty new shipper review of certain in-shell roasted pistachios from Iran for the review period of January 1, 2006 through December 31, 2006.
During the February 13, 2008 meeting of the Departmental Advisory Committee on Commercial Operations of U.S. Customs and Border Protection and Related Homeland Security Functions (COAC)1, CBP officials discussed, among other things, the progress that has been made toward achieving mutual recognition between CBP's Customs-Trade Partnership Against Terrorism and other countries' supply chain security programs.
The International Trade Administration has initiated an antidumping duty investigation to determine whether imports of circular welded austenitic stainless pressure pipe (CWASPP) from China are being, or are likely to be, sold in the U.S. at less than fair value.
The International Trade Administration has initiated a countervailing duty investigation to determine whether manufacturers, producers, or exporters of circular welded austenitic stainless pressure pipe (CWASPP) in China receive countervailable subsidies.