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Game Group reports sales slowdown
02.12.08
Even the strongest on the High Street are vulnerable to the downturn in consumer spending. Game Group, the video games and consoles retailer, reported a sharp slowdown in sales growth today.
The nation's biggest seller of the likes of Sony PlayStations and Nintendo Wiis said that, as ever, it was dependent on Christmas sales but described current trading as "relatively resilient". It also cheered the stock market by saying it was sticking with sales and margin forecasts which it upgraded in September.
But the 1300-plus Game and Gamestation stores saw like-for-like sales growth of just 1.5% in the 18 weeks to the end of last month, compared with 22% growth in the six months to the end of July and 4.9% in the eight weeks of August and most of September.
Video games sales are being spurred by the launches of consoles and accessories such as the still hard-to-find Wii Fit.
