Tag Archives: Peter Lewis

UK super retailers GAME and GameStation are reporting a 40 percent drop in Nintendo hardware sales year-to-date on both DS and Wii.

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Retailer Game has posted record financial results for its fiscal year which ended January 31, 2009.

Reporting turnover gains of £1.97 billion (up 32 percent) and a profit of £126.2 million (up 68 percent), Game chairman Peter Lewis attributes the success to the chain’s international expansion and the acquisition of Gamestation.

“These were exceptional results for the Group with a 67% increase in profit before taxation and non-recurring costs to £126.2m (2008: £75.5m) and continue a consistent growth trend for our business,” he said. “The Group’s basic earnings per share before non-recurring costs in the last four years have increased by a compound annual average of over 44%.

“The principal drivers have been third generation formats with many products now having a wider demographic appeal, the further development of our specialist credentials, successful international expansion and the many benefits arising from our acquisition of Gamestation.”

Lewis also stated that current trading performance is “ahead of our expectations” which has the board confident for the year into January 2010.

More over on Edge.

UK retailer Game’s reported record profits of £36.4 million for the six months ended July 31, 2008.

Total sales across the group were up 64.2 percent, and 17.4 percent like-for-like.

“The business has performed extremely well with both turnover and profit growth throughout the group,” said Peter Lewis, chairman.

“We deliver a compelling customer experience. Our specialist proposition is centred around customer service, our pre-owned offer, our Reward Card and our online capabilities, all of which have contributed to this success.”

More on GI.

According to this Gi report, Peter Lewis, non-executive chairman of High Street retailer GAME, has sold 850,000 ordinary shares in the company, at an average price of 269.23 pence per share.

The sale nets Lewis over £2.28 million, and he continues to hold 66,666 ordinary shares in the company.