Video Game Retailer Defies Adverse Conditions
- 2% increase in life-for-like sales for Game during Christmas trading period
- UK LFL sales increased by 1.1% for 23 weeks to 5 January
- Group sales down 0.5% over seven weeks, 0.6% over first 23 weeks of financial year
- Directors expect full-year performance in line with expectations
- Challenging retail climate faced by the company
- Encouraging like-for-like sales in UK and internationally
- Growth from exclusives, higher margin categories, and specialist customer offer during Black Friday event
- Multichannel focus delivered trading margin growth and cost savings
- Paid services well received by customers
Video game retailer Game has reported a 2% increase in life-for-like sales (LFL) for the seven-week Christmas trading period ending 5 January 2019. LFL sales in the UK also increased by 1.1% for the 23 weeks to 5 January, and remained broadly flat over the Christmas period at -0.3%. Despite this, the directors of the company said they expect the full-year financial performance of the group to be in line with their expectations. Martyn Gibbs, digital chief executive officer, said that ‘despite a challenging retail climate’, the group traded ‘solidly over the Christmas period’, with encouraging like-for-like sales in both UK and internationally. He added: ‘The group successfully delivered growth from exclusives, higher margin categories and our specialist customer offer over the Black Friday event, which all contributed to a pleasing margin outcome and helped to offset the continued, managed decline of preowned. Our multichannel focus has delivered both trading margin growth and cost savings, while paid for services, such as multiple delivery options, have been well received by customers. Our supplier partners provided a strong line-up of exclusive content for key software releases over the 23 weeks and customer response and sales have been positive.’
Factuality Level: 8
Factuality Justification: The article provides accurate information about Game’s sales performance during the Christmas trading period, including specific percentages and insights from the company’s CEO. It is well-structured and focused on the main topic without any unnecessary digressions or sensationalism.
Noise Level: 4
Noise Justification: The article provides relevant information about Game’s sales performance during the Christmas trading period and offers some insights into their strategies and performance. It does not contain any irrelevant or misleading information, but it could provide more data or analysis to support its claims.
Financial Relevance: Yes
Financial Markets Impacted: Game’s financial performance impacts its stock price and may affect the gaming industry-related stocks
Financial Rating Justification: The article discusses Game’s financial performance, including sales figures and expectations for the full year, which is relevant to investors and can impact the company’s stock price. Additionally, it mentions the gaming industry, which could influence related stocks.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text
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