GAME Over – Shares Of Retailer Plummet
As Europe’s leading PC and Video Games retailer, GAME has more than 1,380 international specialist outlets in nine European countries and Australia as well as a popular ecommerce website. Recently, the shares of the company have dropped drastically as increased competition from supermarkets and online sites as well as a general economic downturn have driven profits down.
GAME’s shares dropped 15 percent and for 18 weeks up to December 5, Game Group reported same-store sales fell 13.9%, with its 701 U.K. and Irish stores registering a 16.6% downturn. Its 699 international stores, in countries including Australia, France and Spain, saw comparable-store sales down 6.7%.
The drop in sales comes despite price cuts from both Sony and Microsoft on their consoles and record breaking blockbuster sales of titles such as Modern Warfare 2, and FIFA 10.
9 Responses to “GAME Over – Shares Of Retailer Plummet”
bummer
this is why i hate supermarkets, they ruin everything.
Ive always been loyal to GAME and shall continue to the very end
maybe it’s just because Europeans are smarter than Americans and don’t give their money to stores that rip you off like GameStop…I’m talking about their Used games market mostly ( I don’t enjoy being paid less than half the price they’re going to sell my game for), but I also don’t like their refusal to sell a new game below the $59.99 mark unless it’s the holiday season
@giese095 – Europe & America have about the same amount of idiots.
it’s just economics, hopefully they rebound.
@timewarp – lol
giese095 is right, their preowned games cost almost as much as new games. Over in the States, everyone is mad at GameStop for their second hand pricing policy, but they’re buying from GameStop anyway. Europeans tend to take a lot less crap, I believe.
That sucks for GAME. Are they prety much just a Euro version of Gamestop?
Maybe these companies wouldn’t do so bad if they added options like allowing customers to pay to play games for an hour at a time.
3 dollars and they’ll pop in any game used game you want in the display and you can play it for an hour? Give the kids some seats, charge an additional 1.50 for each friend that pays to play with them… I mean little kids could take 5 dollars and have 1 an hour of Super Smash Brothers Brawl fun time on the Wii!
How about the ability to rent the games? Employees get to borrow used games. I know I used to do it. Maybe they should try specializing in Anime and Manga, and sell more video game shirts and stuff?
I’m sure there’s just some huge profitability market that they’re missing out on. I’m surprised they don’t make or release more games. Imagine if they started to translate JRPGs and release them on the PSN store?
you’re absolutely right Makai, but i think the problem came because of no forethought. Those ideas would be easy to implement, if you weren’t so concerned wit hmaking your store a retail-only outlet, and then expanding like crazy to increase profit.
Then this hits them blindsided and they have no option but to jump ship.