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Game raises forecast again

By Emma Boyes, GameSpot UKPosted Jan 15, 2008 3:35 am PT

Buoyed by strong Christmas game sales, the UK retailer bolsters its profit expectations once again.

Game, the UK's biggest specialty gaming retailer, had a happy, happy holiday, according to the company's latest financials.

The total sales for the Game group, which include the recently acquired Gamestation, were up 76.3 percent over the same six-week period to January 12 last year. Excluding Gamestation stores, sales were up 31.9 percent.

It wasn't just the Christmas period that was more successful, either--over the 50 weeks ending January 12, 2008, the company's total sales were up 86.7 percent, with like-for-like sales up 41.7 percent.

Game chairman Peter Lewis put the strong results down to a changing customer demographic, with women and mature gamers now spending more on games alongside the more typical gaming market.

On the back of these results, the company raised its profit forecast for the financial year ending January 31 to not less than £73 million (about $143 million). As a comparison, profits for 2007 were £29.5 million (about $58 million).

Game also named its top-selling games of 2007 as FIFA 08, Call of Duty 4: Modern Warfare, Pro Evolution Soccer 2008, The Simpsons Game, and Assassin's Creed. It also confirmed that demand for both Nintendo's DS and Wii machines continued to exceed supply.

Game wasn't the only specialty gaming retailer benefiting from this year's lineup of titles. Last week, GameStop reported holiday sales up nearly 35 percent, and similarly bumped its earnings-per-share guidance from between $1.61 and $1.63 to $1.75 and $1.76.

30 Comments

  • nhatnheo

    Posted Jan 19, 2008 2:59 am PT

    Assassin's Creed is cool but i only have a PC d the delay too long why? why? any body tell me why??. I've been waiting for this one since COD 4 was release. I have to admit that COD 4 IS great

  • bombfanatic

    Posted Jan 16, 2008 12:47 pm PT

    duh COD4 is amazing

  • FaiThFul066

    Posted Jan 16, 2008 12:34 pm PT

    Yeah Call of Duty 4...Amazing game.

  • FlashCharge

    Posted Jan 16, 2008 10:07 am PT

    Strong sales will continue to produce leading game formats.

  • diablobasher

    Posted Jan 16, 2008 12:47 am PT

    Grimbee:

    I KNOW why games are removed from boxes im not disputing that, i've worked in GAME and other Games stores myself.

    But i'm of the viewpoint that onces it's opened, it's second hand. No bones about it, i want it cheaper, or brand new, like i'm paying for.

    Admittedly, lately they've been a lot better about it in store, when i got my PSP the other day, 4 games were second hand, and the 2 new ones, were sealed. Which was great. I know it's more efficient and all that rubbish, and that's why i get new stuff online, and preowned in stores.

    The thing im more agitated about is the stickers. They are POINTLESS for anyone but moron parents who can't tell the difference between "Monster Battles Godzilla" and "Monster Hunter" or whatever.

    Honestly, who buys a game to play it, keeps the sticker on and 27 days later decides they dont want it anymore... Seriously, you decide that stuff in the store before you purchase. I begrungingly buy so called 'new' games because i understand the reasons behind it and accept them. But these stickers were the final straw, the month they were introduced was when i switched to their online store.

  • Pete5506

    Posted Jan 15, 2008 8:35 pm PT

    vary nice

  • IHeartCloud

    Posted Jan 15, 2008 4:51 pm PT

    It's unbelievale DS's are still in short supply when they've been out for how long, now?

  • online-predator

    Posted Jan 15, 2008 12:59 pm PT

    bully 4 them

  • Daaku_Joyki

    Posted Jan 15, 2008 12:40 pm PT

    I don't mind the stickers too much as the people on the till usually are quite good at getting the right disc.

    Though one time i got DMC3 in the DMC2 box, and i took it back- I Know i was young and naive, you can hardly blame me.

  • membernametaken

    Posted Jan 15, 2008 10:03 am PT

    I thought this was going to be an article about game prices being raised.

    *phew*

  • kavadias1981

    Posted Jan 15, 2008 9:51 am PT

    I still cant understand how people are so thick as to use this rip off store. They charge at least 25% more for games compared to online stores.

  • Nicktay26

    Posted Jan 15, 2008 9:45 am PT

    I personally think game are a good company, their sale prices were cheaper than anywhere else for this January and they don't take advantage of the customer. Very good results for Game, shows the industry is stronger than ever.

  • raverrozza

    Posted Jan 15, 2008 8:59 am PT

    mrkame16 well to be honest the game employees while decently friendly on the most part are in general completely lacking in any knowledge of the industry and whats going on. im a little worried about game taking over gamestation cos now we could end up with the over powerful one company dictateing the lot. that said i but most of my games at either HMV or zavvi cos i can get 10% student discount.

  • okassar

    Posted Jan 15, 2008 7:23 am PT

    I hope the rise of the gaming industry creates more competition,leading to better systems and better games for both the short and long term.As we all do...

  • mrkame16

    Posted Jan 15, 2008 7:22 am PT

    I wish there were gamestation stores located in the U.S. so they can compete with exagerrated, overated bad serviced Gamestop stores.

  • zeus_gb

    Posted Jan 15, 2008 7:13 am PT

    I was a very loyal GAME customer for years until I found the joys of PLAY.com. Much cheaper!

  • DonutTrooper

    Posted Jan 15, 2008 6:59 am PT

    Of course they had high sales, their takeover of Gamestation easily gave them access to more market areas as well as less for the competition.

  • zeus_gb

    Posted Jan 15, 2008 6:50 am PT

    I was a very loyal GAME customer for years until I found the joys of PLAY.com. Much cheaper!

  • Jokul

    Posted Jan 15, 2008 6:46 am PT

    Good for Game and Gamestation, I've always liked these stores and bought pretty much every game from these stores.

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