MCV/DEVELOP News, events, research and jobs from the games industry
Jersey and Guernsey has lost their judicial review of the UK Government’s decision to end Low Value Consignment Relief. Low Value Consignment Relief is a tax loophole which means online retailer that operate out of the Channel Islands – including The Hut Group, Play.com and Amazon – do not have …
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OPINION: About that MCV cover…
GAME’s communications boss called me earlier. I am not a popular person at the retailer’s Basingstoke HQ right now. And for good reason. I’ve had hate mail from some of GAME’s 6,000 employees this morning. I am not a popular person at the retailer’s 600 shops right now. And for …
Read More »Argos sales decline 8.5%
Home Retail Group has revealed that its Argos chain suffered an 8.5 per cent decline in like-for-like sales for the eight weeks ending March 3rd. Overall sales fell 7.7 per cent to 480m. The numbers were apparently driven by the continued weakness in the consumer electronics market”. 12 stores were …
Read More »Diablo III gets May 15th release date
Blizzard Entertainment has confirmed that the hotly anticipated Diablo III will be released on PC and Mac on May 15th. The game will be released simultaneously across the globe and can be purchased either from retail or directly from Blizzard’s Battle.net website. Alongside the English language version the game will …
Read More »Goldman Sachs acquires 13m GAME shares
World financial giant Goldman Sachs has become the latest company to swoop for stock in The GAME Group. The purchase was made on March 12th and was publically announced this morning. Goldman Sachs has acquired 13,120,220 shares in the company, entitling it to 3.78 per cent of its voting rights. …
Read More »TIMELINE: GAME’s year from hell
It was in February last year that GAME announced its bold plans to transform its business. The new strategy featured in-store mobile technology, a focus on reward cards, click and collect, a revamped website and plans to triple its digital revenues by 2013. But most importantly, it saw GAME secure …
Read More »Indies profit from GAME shortages
Small UK games retailers are thriving after customers flocked to them to buy Mass Effect 3. Indie retailers have seen sales spike as GAME fails to stock top new releases such as Street Fighter X Tekken, Mario Party 9 and the aforementioned Mass Effect. We’ve just had our best weekend …
Read More »Publishers respond to GAME woe
Publishers Codemasters, Konami and 1C have weighed in on the trouble engulfing GAME. Firms hope the ‘shake-up’ could be for the good of the industry, and that GAME will re-emerge a fitter, leaner enterprise. Konami’s UK General Manager Pete Stone told MCV: "One way or another it’s crunch time for …
Read More »GAME rivals: ‘We will fill the gap’
Rival retailers say they are ready to step up as the credit crisis at GAME Group deepens. But these competitors are not celebrating, with leading outlets fearful of what the loss of their ‘gold-standard market leader’ will mean for the future of UK games retail. Retailers such as ShopTo have …
Read More »Tesco UK boss quits
Richard Brasher, the UK chief executive at Tesco, has stepped down as the market leading retailer struggles to turn around its domestic sales. Britain’s biggest outlet issued its first profit warning in 20 years earlier this year. Tesco’s Group CEO Philip Clark will now take over the running of the …
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