LONDON Jan 14 Game, a video games retailer
bought out of administration by private equity investors last
year, reported a significant rise in Christmas sales helped by
new console launches ahead of a possible return to the stock
A source familiar with the situation told Reuters that Game
was close to appointing advisors for an initial public offering
expected to take place later this year, with HSBC,
Canaccord Genuity and Liberum Securities likely to co-ordinate
The British company declined to comment on a possible float
when asked by Reuters.
The video games retailer reported a 83 percent rise in total
sales in the six weeks to Jan 4, with a 213 percent in online
Like-for-like store sales, which strip out the closure of
shops, rose 90 percent it said. Around half of the chain's
roughly 600 UK premises have closed since April 2012.
Chief Executive Martyn Gibbs said two new games consoles,
both released in November, had helped boost sales during the
"This strong overall performance for our second peak trading
period was driven by our ability to capitalise on the hugely
successful launches of Microsoft's Xbox One and Sony's
PlayStation 4," he said.
"This was supported by the release of well-received new
games, significant growth in online and digital sales and the
continued success of our pre-owned games offering."
The firm, which employs approximately 3,000 staff in 320
stores, appointed PwC as its administrator after failing to find
a buyer for the business in March 2012, and is now owned by
private equity investors including OpCapita.