Game on: new consoles boost Game Retail to record high

In March 2012, it was almost ‘Game Over’, for high street video games retailer Game, as the company closed 300 stores when it went into administration.

Less than 12 months later, the company has announced soaring Christmas sales, leading to speculation that the retailer could make a return to the stock market.

Game reported that total sales were up a mighty 83% in the six weeks to 4 January, as customers scrambled to buy Microsoft’s new X-Box One and Sony’s Playstation 4, which were both released in the run up to Christmas and saw fans queuing overnight to get their hands on the consoles.

Sales were also bolstered by demand for blockbuster game Grand Theft Auto Five, where players commit crimes in the fictional city of Los Santos. GTA 5, as it is known to fans, became the fastest selling game in history when it was released in September last year, making $1bn (£609m) in its first three days on sale.

Game Retail chief executive Martin Gibbs said: “These figures […] reflect the transformation over an 18-month period of the operational and financial profile of the business. Investments in store team training and a far-reaching store improvement programme meant we were well prepared for the launch in November of two long-awaited new consoles.”

Now read:

Stunning historic footage shows London past and present, from 1920s to todayVideo

London past and present then and now

Readers' comments (1)

  • Ian Middleton

    But new consoles are only released every few years. Bit of a gamble to be basing your whole high street business on that, let alone seeking a £300M floatation on the back of one good Christmas.

    Digital delivery is the future and stores are getting very expensive to run. It's those, if anything, that Game should be focusing on shedding rather than adding to their problems with more.

    Unsuitable or offensive? Report this comment

Social Bookmarks