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GAME has faced a number of troubles across the years, with the UK retailer hitting bankruptcy in 2012 and bouncing back in 2015 with its acquisition of Multiplay. Fast-forward to 2017 and the company is hitting another financial low, this time blaming low profit margins on the lack of Nintendo Switch stock and slowing sales of the Xbox and PS4.
Another set of bleak financial results are expected to hit GAME this year, as its profits are “substantially below previous expectations”, reports GamesIndustry.biz. It seems that GAME put all of its eggs in one basket in hoping that the Nintendo Switch sales would save its 12-month total, however the company notes that while the demand for the Switch has been “very strong”, supply has been “lower than expected”. More blame has been attributed to the “continued softness” in its “core Xbox and PlayStation markets” as sales are continuing to slow down on the four-year old consoles.
Console shortages near launch aren’t uncommon, with Nintendo’s bestselling console, the Wii being out of stock for most of the console’s first year and Sony struggling to keep up demand for its PlayStation 4. It’s not only brick and mortar retailers suffering from the lack of Switch sales, with online traders such as Amazon UK also sitting with none left.
With all of this in mind, it’s difficult to see where GAME’s expectations are coming from and even stranger that the company makes no mention of the impact its own (pricey) initiatives such as the new Elite Rewards scheme have made.
More information will be revealed following the full financial results next month, with stock having fallen almost 30% after the original statement was made. In the meantime, the retailer is looking ahead, hoping for the Xbox One X, high profile games like Red Dead Redemption 2 and more Switch stock to change the tide.
KitGuru Says: I can see the frustration across all retailers and especially fans with Switch stock being so low but whether it is entirely to blame for low profits is another thing altogether. What are your experiences with the GAME store? Did you manage to get hold of an elusive Nintendo Switch?
Bullshit, absolute bullshit. This annoys me so much because they are playing with peoples jobs. I’d love to know how much they spent refurbishing the Gateshead Metrocentre store for the second time, taking up half the store with its ridiculous ‘Gaming Zone’.
Game….if anyone’s reading this you’re in Gateshead not Tokyo Japan. Paying Metrocentre prices to rent out floor space and outfitting it with gaming pc’s, monitors, headsets, keyboards, mice, networking gear, TV’s looping the same adverts, fridges for overpriced energy drinks, sofas, consoles……..and you know the only people you ever see sitting in there? The flaming staff.
And if that’s not enough they have a VR corner with two staff members taking turns to troubleshoot a HTC Vive that never ever works. AND a streaming booth where every night a staff member plays games with the blinds closed……..as you walk past its like the wizards voice from the wizard of OZ.
That’s right next to the huge wall of PC hardware…well the wall of empty hardware boxes, the boxes with ‘available to order’ stickers on them.
Now they have Elite rewards, honestly I have no idea who comes up with this stuff…..for the grand fee of £36 you get 10% of your reward points back? What does that even mean lmao, why not 10% off the price of a game or something useful, but no Game is using its usual tactic of thriving off parents who don’t know any better, they use the panic tactic of springing stuff on people at the till and before they know it a £40 birthday present has turned into £100 present with DLC, matching purse and a trip to Harry Potter land.
Game once again has screwed itself into the ground but when it inevitably self implodes AGAIN that will be it, there are no more high street gaming stores, it’s digital or online stores all the way. I honestly wonder whether GAME actually has any gamers on it’s board or decision making panel, I mean I guess I see some of the ideas and someone’s heart was in the right place but someone has to have the courage to say look this idea is not working or we have tried this and its not working out but I’ve spoke to a few staff members and all you get is a lot of nodding and eye rolling. Listen to your staff Game, have an anonymous ideas box before its too late.