- Sales in three weeks to January 9 slip 0.4%
- UK sales fall 5.9%
- Boss warns of “further operational efficiencies”
Game Digital has reported a slide in sales over the Christmas period but the retailer claimed trends are improving in the market.
Game, which last month issued a profit warning, said group gross transaction values (GTV) in the three weeks to January 9 fell 0.4%.
GTVs are defined as total retail receipts and all other group sales, excluding VAT.
Game said UK GTVs slipped 5.9%.
Chief executive Martyn Gibbs said: “Recent trading conditions in the UK video games market have been challenging, impacting Game UK’s peak trading performance. However, we have seen a better market and an improved sales trend over the past three weeks.”
In the 24 weeks to January 9, group sales slipped 5.5%.
Gibbs said the retailer will take “appropriate action” to tackle “market challenges”, which will include “driving further operational efficiencies”, but did not give further detail.
Looking ahead, he added: “We see a solid schedule of new game releases planned during the second half of our financial year.
“We also anticipate that new technology releases this year, in particular the launch of virtual-reality devices, will lead to increased consumer interest. This will benefit Game as customers seek expert advice and specialist service.”
Game said it is maintaining its half-year EBITDA guidance of about £30m.