GAME confident of further sales growth through 2008

via Games Industry


High Street retailer GAME has said that it expects to continue to see market growth through 2008, with increase in like-for-like sales for the fourth consecutive year.

For the 50 weeks ended January 12 2008, GAME reported like-for-like sales up by 43 per cent, and it now expects a further like-for-like growth of between 5 and 10 per cent for the current year.

The specialist retailer has benefited from strong hardware sales and expects a number of high-profile software releases to help the market during the first half of 2008.

"There is a strong pipeline of innovative software with some highly anticipated products scheduled for European release," noted the retailer, highlighting Nintendo's Wii Fit and Mario Kart, and Rockstar's Grand Theft Auto IV.

"The Board believes that the market for PC and videogames products remains buoyant," said the company, ahead of its preliminary results due next month.

"With a large and growing installed base of hardware in the market, a strong line-up of new product launches, the PS3 yet to reach the first anniversary of its launch [in Europe] and the benefits of a full year of the Gamestation acquisition in prospect, the Board remains very confident in the outlook for the 53 weeks to 31 January 2009."

The company has also adjusted its profit estimates for the full year to January 31, 2008, expecting profits to be no less than GBP 74 million, slightly up on the previous estimate of GBP 73 million.