I guess it really is tough out there as GAME have announced they’ll be closing 12 GAME stores, 6 Gamestations and all 25 of its Debenham’s concessions. Perhaps it includes the Gamestation in King Street as that’s had its shutters down for a while now – I just thought it was having a refit? Somebody correct me if I’m wrong please.
Game Group like-for-like sales fell 15% in the 49 weeks to 9 January, decreasing 13.8% in the final five weeks of that period (i.e. the Christmas period). GAME has felt Pressure in the form of cheaper prices from mainstream retailers like Tesco and online retailers like The Hut and has resulted in the tough economic decision to cut 247 jobs.
The Hut Group reported a 188% rise in the number of orders in the six weeks to Christmas 2009 and with initiatives like the acquisition of online-only brand Zavvi in 2008 and Mega Monday sales (with up to 80% off the RRP of a selection of bestselling DVDs, CDs and books) perhaps there’s no real surprise.
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