Positive Holiday Season Boosts Game’s Performance
- First sales growth in two years for Game
- GTV up 5.2% over Christmas trading period
- Overall GTV up 3.8% for the first 23 weeks of financial year
- Strong growth in lower cost hardware sales
- Cost savings of £4m achieved in UK retail business
- Continued focus on core trading channels and strategic initiatives
Video game retailer Game has reported its first positive sales growth in over two years, with a trading update revealing a 5.2% increase in gross transaction value (GTV) during the Christmas period and an overall increase of 3.8% for the first 23 weeks of the financial year ending January 6, 2018. Strong GTV growth was driven by lower cost hardware sales, up 25.8% over the holiday season and 22.7% during the 23-week period. The company also achieved £4 million in cost savings in the UK retail business with ongoing initiatives to offset margin impacts from console availability and game releases. Game Digital CEO Martyn Gibbs attributed the positive performance to strong demand for Nintendo Switch, PlayStation hardware, Xbox One X, and new software titles. The company plans to maintain focus on core trading channels and continue strategic initiatives, with full-year results dependent on console availability and successful game launches.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Game’s sales growth, specific product performance, and the CEO’s comments on the factors contributing to this growth. It is based on a trading update from the company and does not include any irrelevant or misleading details, sensationalism, redundancy, personal perspective presented as fact, invalid arguments, logical errors, inconsistencies, or fallacies.
Noise Level: 3
Noise Justification: The article provides relevant information about Game’s sales growth and identifies factors contributing to this growth, but it lacks in-depth analysis or exploration of long-term trends or consequences for the industry.
Financial Relevance: Yes
Financial Markets Impacted: Game Digital’s stock price and other video game retailers
Financial Rating Justification: The article discusses the positive sales growth of Game, a video game retailer, which can impact its stock price and potentially affect competitors in the industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
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