Game Group chief resigns as profits fall


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Shares in Game Group have sunk 14% after the games retailer announced a 28% fall in annual profits and said its chief executive was stepping down.

Lisa Morgan will be replaced by Chris Bell - the former boss of Ladbrokes - as interim chief executive, Game said, as it announced its full-year results. The firm's UK chief operating officer Terry Scicluna has also resigned. Pre-tax profits for last year were £84.2m, down from the £117.4m reported 12 months ago. Game blamed the wider fall in video game sales for its decline in profits.

It argued that it had delivered its second-best trading performance in its history, and had "outperformed the market". "Our results were delivered against the backdrop of a very difficult trading environment, which saw the global PC and video games market decline by over 20%," said chairman Peter Lewis..

Tomato source

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Over priced hardware and games, poor staff and too many stores in some locations. Colour me unsurprised.

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Tomato source

Over priced hardware and games, poor staff and too many stores in some locations. Colour me unsurprised.

Have to agree with ya there. Game Group , who also own Gamestation and there are one of each is my local small town centre, net prices are always ?10 cheaper the only benifit is trade-ins. But then again selling private is better (although I have never done this, only traded in)

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Tomato source

ha-ha.jpg

Over priced hardware and games, poor staff and too many stores in some locations. Colour me unsurprised.

So true! Where I used to live there were 3 GAME stores and 2 Gamestations, all within about 1 mile of each other! Crazy.

Visited the Trafford Centre, Manchester the other week while I was up there and they have 2, just in there! Why????

I'm glad they are suffering.

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Yup 2 x Game stores in Lakeside (Essex) almost above each other on different floors. Really don't seem to have the greatest of management and as mentioned, staff range from useless to idiotic.

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28% is pretty bad.

But Game Group also own Gameplay.co.uk, which occasionally has some great deals. Not sure why they need to give the illusion that there is competition - when it all goes into the same pot.

There is a Gamestop in Stockport near where I live, and that is even more overpriced than Game or Gamestation. And their trade-in prices are laughable. So Game or Gamestation are kinda our best high street options, sadly.

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