Lewis sees "encouraging signs" in GAME results

GAME Group chairman Peter Lewis is remaining positive despite a year and Christmas of decline at the retailer.

"Against the backdrop of a difficult year for the PC and video games market in 20101, we saw encouraging signs that customers are still looking for exciting products at reasonable prices," he stated.

"We expect the trading environment to remain challenging in 2011. However there will be further innovative launches in the $40bn global games marketplace including Nintendo‟s new handheld 3DS, additional software for Move and Kinect, and an exciting line up of PC and console titles.

"Alongside our commercial developments, we will remain focused on operational improvements. We made good progress with our businesses in France and Australia last year and will continue to do so in 2011. In every territory we will maintain our disciplined focus on cost control, working capital improvement and capital expenditure.

"GAME Group has a strong position in the video games market, but it is well recognised that the market is changing. Next year will see further innovation in existing formats as well as social and mobile gaming, and a growth in digital and online distribution.

"Given those developments, we recognise that we need to evolve our business and deploy our strengths in new areas if we are to enhance our position as the market leader.

"More details will be provided at a strategic update next month. Our team, led by Ian Shepherd, will give an insight into the strategic programmes with which we are building a seamless, customer-centred multi-channel service for gamers in the future.”