Game Group's sales have fallen 10.8 per cent for the 44 weeks to December 5th, partly caused by poor software sales.
Like-for-like sales were for the same period were down 15.1 per cent, while total UK sales were down 14.3 per cent.
Meanwhile, for the 18 weeks to December 5th total Group sales were down 11.3 per cent, and UK and Ireland sales were down 15.3 per cent.
The firm's chairman Peter Lewis blamed dropping software sales and supermarket price-cutting for the slump.
"We have seen strong competition in all of the markets that we operate in. In the UK, in particular, we have seen significant pricing activity from the supermarkets. However, our overall year to date market share position has improved due to the strength of our consumer proposition, including our trade-in offers, loyalty card discounts, breadth of range and specialist staff.
"Our preowned business has continued to perform well as it offers real value for our customers, particularly in the current economic climate."
Despite the fall, Game has opened 43 stores since the half year, and expects a solid Christmas and January performance.
"Over the longer term, we believe the video games market will continue to trend towards higher margin software and peripherals," continued Lewis.
"Game is well placed to benefit, as increased choice and technical innovation encourages customers to visit the specialist. As the market leader, we will continue to build our multi-channel proposition and preowned-led value offer to best serve our customers’ demands."
Advertisement
Related Stories
- Apple voted most memorable logo Feb 14th 2012 at 2:56PM
- VLC 2.0 announced Feb 14th 2012 at 6:38AM
- Over half of UK companies infected by malware Feb 13th 2012 at 11:57AM
- Microsoft gets heavy on educational pricing Feb 13th 2012 at 5:54AM
- The Hut Group sees 70 per cent growth Feb 10th 2012 at 4:49PM
- Microsoft gets stingy with Technet Feb 6th 2012 at 7:11AM
- Apple ordered to cease iPhone and iPad sales in Germany Feb 3rd 2012 at 3:05PM
- Star Wars: The Old Republic hits two million units sold Feb 2nd 2012 at 2:22PM
- GAME denies immediate stock problems Feb 1st 2012 at 1:56PM
Follow Follow this article if you would like to receive notifications of updates.
Add a new comment
You need to be logged in to post comments. If you do not have an account then please register.
Comments
0 comments
There are no comments yet, be the first to add one!