European Retail Briefing - December 2010
Trading updates from both HMV and Game in the past week would suggest the gaming market in the UK was dying. But looking across Europe Gamestop, the leading retailer, is thriving. Why? What can one learn from the other? The key appears to be in integrating the stores and online offer.
Both Game and HMV have reaped the rewards of their presence in one of the most dynamic and fastest growing retail sectors during the boom years. However, both announced dreadful results this week. Game’s like for like sales dropped 12.2% in the 44 weeks to 4 December with total sales down 14.7%. HMV’s game sales fell 12% in the first half of their 2010/11 financial year. Both may point to the lack of major gaming launches in the year, and it is true that the recent launch of major titles and hardware should help boost trading over Christmas, but both figures are below our own estimates for performance in the market in 2010.
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