On news that GAME Groups share prices have fallen dramatically over the last year and that the company is expected to make a loss of £10 million, CEO of GAME Group, Ian Shepard, has defended the company in an interview with MCV.
It is very easy to look at any retailer on the High Street and write an apocalyptic headline. Our market share is high and growing. GAME is very important to the overall health of the video games industry.
We are also a strongly cash generative business. Even with the guidance we have given now, where industry analysts are concluding that we will probably make a loss this year. Even in that circumstance we will still generate operating cash flow.
And cash is king.
GAME Group has blamed a lack of consumer confidence in the market due to the economic uncertainty people are currently facing.
On top of that, some have suggested that the company hasn’t done enough to keep up with market trends and is falling behind the pack. Ian Shepard denied such allegations.
I reject the idea that GAME is not doing new things. If you come into this business, you will see a whole bunch of people working incredibly hard to grow new revenue streams.
Our performance within the market I will hold up against anybody else.
Do you believe GAME has done enough to keep up with competitors, and so be around for a while or is the company on its last legs?