Deathwatch: Game announce another profit warning
It’s only been a few days since Call Of Duty: Modern Warfare 3 hit the shops but its raging sales success hasn’t been enough to prevent Game from waving madly as they issue a profit warning, their second of the year.
Shares in the game retailer immediately fell 37% to a new low of 12p. Sales figures are down in the year so far by 10.7% and smart-minded analysts have translated that into a forecast of losses of £10 million. Which, when all is said and done, is pretty grim news.
Chief executive Ian Shepherd said: “What we are seeing not just in the UK but notably in France, Spain and Scandinavia is unprecedentedly low consumer confidence,” but he doesn’t seem all that arsed about Game ceasing to exist, adding, “This is a cyclical rather than structural downturn”.
Or is it? Are cheap-as-chips mobile apps eating into the sales of expensive games? Is it all because all the kids are now on the dole? Are games-buyers getting savvier and renting their games or getting them pre-owned. We don’t know, because we’re working from a hermetically-sealed creativity pod that is buried fifty feet below the ground. So why don’t YOU answer our questions instead? EH???