Page last updated at 09:36 GMT, Tuesday, 8 December 2009

Video game retailer's shares fall

Man holding video games
'Call of Duty' broke sales records when it was released in November

Shares in the computer games retailer, Game Group, have tumbled 13% after it said like-for-like sales fell 13.9% in the 18 weeks to December.

Game said price cuts on Microsoft's Xbox 360 Elite and Sony's Playstation 3 increased demand, but not enough to offset a fall in hardware revenue.

It also noted the strong competition it faces - particularly from supermarkets.

The firm said "prevailing video games market trends lead us to approach the critical Christmas period cautiously".

'Clearly worse'

"Today's data implies that trading over the most recent 11 weeks has improved, but only marginally," said Mark Photiades, an analyst from Singer.

"This is clearly worse than we had assumed. This year in particular Game will be looking to pick up at least its fair share of Woolworths and Zavvi's video game business."

Game trades from more than 1,350 stores in nine European countries and Australia.

Its share price has fallen 16% since it released its half-year results in September.

In early Tuesday trading its shares were down 19 pence or 13.1% to 126p.

Print Sponsor

How Dundee became a world gaming hub
07 Dec 09 |  Tayside and Central
Thousands attend video game fair
27 Oct 09 |  West Yorkshire
Games maker EA to cut 1,500 jobs
10 Nov 09 |  Business

The BBC is not responsible for the content of external internet sites

Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific