MCV/DEVELOP News, events, research and jobs from the games industry
There’s more bad news on the High Street today with conformation that Choices UK owner The Webb Group has been entered into administration. Francis Graham Newton and Paul James Bates of BDO LLP were appointed as joint administrators last Friday. The Group was the home of nine brands – Choices …
Read More »Express: GAME directors might "pull the plug"
A report in yesterday’s edition of The Express has claimed that the directors of struggling retailer GAME are considering pulling the plug” on the entire business. This is because many at the highest levels of the chain now fear that insolvency has become inevitable” as it continues to negotiate deals …
Read More »GAME could face lender action as UK Xmas sales plunge 17.6%
A UK and Ireland Christmas sales slump of 17.6 per cent for the eight weeks ending January 7th has lead GAME to admit that it might have to rely on the good will of lenders to survive. Described by BBC Radio 5’s Breakfast programme this morning as the worst UK …
Read More »US game sales dip 11% in Q3
US consumers spent an estimated $4.2bn on video games in Q3 overall – a year-on-year drop of 11 per cent. That figure represents money spent on hardware, content and accessories, according to the Q3 2011 US Games Market Dynamics report from The NPD Group. Buyers spent $1.3bn on new physical …
Read More »GAME shares tumble 91% year-to-date
The markets have reacted dramatically to GAME’s full year revenue target downgrade issued last week. The crash comes despite GAME’s repeated assurances that it continues to outperform the UK market. At the start of play on Wednesday November 16th, the day on which GAME issued its statement, GAME Group’s share …
Read More »GAME downgrades full year revenue target
The GAME Group has admitted that the 2011 video games market has performed below its expectations”. The retailer had previously predicted a full year like-for-like sales decline of between -3 per cent and flat. It now expects a best-case scenario of -7 per cent which, as the retailer now routinely …
Read More »Games booming for The Hut Group
Web giant The Hut Group is fast becoming one of the UK’s biggest games retailers, after reporting a huge leap in sales last year. For 2010 The Hut Group saw its sales rise 70 per cent to 87m, up from 51m in 2009. The biggest growth area for the Group …
Read More »GAME: We’re ready for transition’
GAME CEO Ian Shepherd has told MCV the retailer is well prepared for the future of the video games market. Next month the company will be announcing plans to better address the increased prominence of digital games and content. The new agenda will put GAME in good stead for the …
Read More »Chairman explains GAME reshuffle
The chairman of UK games retailer GAME Peter Lewis has, as part of the firm’s financial statement, explained the reasoning behind the departures of long-term CEO Lisa Morgan and COO Terry Scicluna. His full statement is as follows: The Board announced today that Lisa Morgan has stepped down from her …
Read More »Execs go as GAME profits fall
This morning’s news of wholesale changes at GAME Group have sent shockwaves through the industry and its share price tumbling. On a day when tough trading conditions have finally been brought into focus for the entire business, erstwhile chief executive Lisa Morgan has stepped down after 14 years of service. …
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