In a year which saw the group dispensing with its Electronics Boutique branding on its stores in favour of the GAME livery, the chain increased its turnover to over half a billion pounds – rising from £454 million to £560 million.
Like-for-like sales grew by 12 per cent, ahead of the official figure for the overall growth of the UK software market during 2002 which was eight per cent according to ELSPA figures.
The company continues to grow its operations in the UK, adding an extra twelve stores during the year to bring the total number to 335, but the largest growth area is continental Europe – where 48 new stores were opened, for a total of 114 stores spread across France, Spain and Sweden.
The UK store opening programme is expected to accelerate during 2003 now that the rebranding exercise has been completed at all stores, while further expansion is also planned for the European business. Continental Europe now accounts for 12 per cent of the company’s turnover.
The strength of GAME’s position in its markets can be measured by this achievement of record sales, record profits and record cash in the bank of £37.4m in a difficult year for UK retailers, commented GAME Group chairman Peter Lewis. Our response to the intense competition during Christmas 2002 was successful in maintaining our clear market leadership whilst delivering record profits. The current year has begun well with further gains in market share.
Source: Gamesindustry.biz
