GAME Over – Shares Of Retailer Plummet
As Europe’s leading PC and Video Games retailer, GAME has more than 1,380 international specialist outlets in nine European countries and Australia as well as a popular ecommerce website. Recently, the shares of the company have dropped drastically as increased competition from supermarkets and online sites as well as a general economic downturn have driven profits down.
GAME’s shares dropped 15 percent and for 18 weeks up to December 5, Game Group reported same-store sales fell 13.9%, with its 701 U.K. and Irish stores registering a 16.6% downturn. Its 699 international stores, in countries including Australia, France and Spain, saw comparable-store sales down 6.7%.