GAME Group sees £51.5 million loss for first-half 2011

By Johnny Cullen, Wednesday, 28 September 2011 08:44 GMT

The GAME Group’s announced that its suffered a loss of £51.5 million, not including tax, for the first six months of 2011.

The loss is double that of the £21.5 million it lost for the same period last year, whilst sales were £558.8 million, down 10.5 percent. Like-for-like sales were nearly down ten percent.

GAME said that the only standout title within the first six months of 2011 was LA Noire, bringing in £20 million of sales, but noted it was disappointed with sales of Nintendo 3DS.

The UK retailer is now hoping for a big Christmas ahead, with at least 18 special editions of games being carried for the period by the group, which also owns GameStation.

“Like many other retailers, we believe that trading conditions will remain tough for the remainder of the year, and have set our plans accordingly,” said group CEO Ian Shepherd.

“We are determined to again outperform a difficult market this Christmas, by using our unique specialist position to give customers the very best choice and value.”

Thanks, GI.Biz.

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