GAME sales dip in H1 2009

The GAME Group has reported like-for-like sales in H1 2009 were down 15.4 per cent – in line with what the company had forecast.

In the 21 weeks to June 27th, 2009, total Group sales dropped 9.1 per cent on the firm’s previous half-year.

In the UK and Ireland, total sales were down by 12.4 per cent, while like-for-like sales dropped by 15.8 per cent.

The firm’s international business saw total sales down by 1.1 per cent and like-for-like sales drop 14.4 per cent.

GAME blamed the like-for-like drop on ‘unprecedented’ sales in the comparative period a year before, which were up 25 per cent thanks to releases such as Mario Kart, Wii Fit and GTA IV.

GAME said it expected to deliver first-half profits before tax and non-recurring costs between 13m and 16m (2008/09: 36.4m).

The profit performance last half year was exceptional and this half year should be viewed in the context of our seasonal business, when customarily all Group profits are made in the second half,” said GAME chairman Peter Lewis.