GAME reports sales decline due to “very challenging” market

Wednesday, 16 November 2011 15:10 GMT By Stephany Nunneley

GAME has reported a year-on-year sales decline across the board, with accessories, hardware, pre-owned and software all down for the 41-week period ending November 12.

According to management statement released this morning via CVG, GAME and Gamestation sales were down 10.6%, but still a few percentages ahead of the overall market, which declined 12.3% in the same period.

“The performance of the market is below our expectations,” said GAME CEO Ian Shepherd in a statement. “Major software titles are launching in line with first week expectations, but are then seeing a quicker tail-off than historically experienced. Customer footfall and basket sizes are down reflecting wider consumer uncertainty.

“The overall video games market remains very challenging, despite strong title launches, and our guidance today reflects the extraordinary economic times in which we are operating. GAME has outperformed the market, reinforcing our position as market leader, and I am hugely proud of our teams. ”

Revenues from videogame sales in the UK last week were the largest on record, according to GfK ChartTrack, with Modern Warfare 3’s debut contributing to a massive £120.8 million in sales.