Video games retailer reports like-for-likes down
UK sales at video games retailer Game increased by 0.5 per cent for the 22 weeks to July 2, but like-for-like sales dropped 5.4 per cent.

The home entertainment retailer's group sales were up 6.3 per cent, with like-for-likes down 2.6 per cent, the company announced this morning. The figures were bolstered by mainland European sales, which rose 37.2 per cent, with like-for-likes up 12 per cent for the same period.

'The successful launch of the Nintendo DS in March mitigated an otherwise tough retail environment,' said Game chairman Peter Lewis. 'Trading conditions continue to be challenging, with ongoing price deflation and a continued lack of strong software releases.'

'September's launch of Sony's hand-held PSP will benefit our second half, as will our Europe-wide store opening programme, which is on track for 80 new stores this year. Our portfolio will exceed 700 stores by the key Christmas trading period.

'The eagerly anticipated XBox 360 and PlayStation 3 are expected to make significant contributions to our sales in 2006 and beyond.'

Game also confirmed that the legal claim arising from the 2001 acquisition of French business ABC Games International has been settled for Eu3.1 million (£2.1 million). It was also announced that Game senior non-executive director William Slee will retire from the board in September.

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