GAME reports 9.1% drop in retail sales

By Stephany Nunneley, Thursday, 2 July 2009 15:15 GMT

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Retailer GAME has reported a 9.1 percent drop in sales for the first half of the year. Like-for-like sales are down 15.4 percent.

For UK and Ireland based stores, business was down 12.4 percent, with like-for-like down 15.8 percent. Its International businesses decreased 1.1 percent and a like-for-like was down of 14.4 percent.

These figures were expected by the company, due to comparisons with last year’s time period which saw the releases of Grand Theft Auto IV, Mario Kart and Wii Fit.

“Whilst we remain mindful of the significant challenges in the wider economic environment, our full year performance will be driven by the increased ownership of consoles which will increase demand for software,” said Peter Lewis, company chairman.

GAME expects strong sales of used and new titles later in the year thanks to strong name brands and the UK installed base, which currently exceeds 24 million.

More over on GI.biz.

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