Game Group today warned that a new batch of video games launched at a key trade show last week had failed to convince it the market was set to improve.
The group, which has 322 stores and concessions in the UK and Ireland, said same-store sales were down 9.4% in the 19 weeks to June 11. The wider market has seen revenue declines of 12.8%.
The E3 annual video games industry trade show in Los Angeles showcased games launching in the second half of the year, such as Modern Warfare 3, FIFA 12 and Mario Kart 3D – but Game said they were unlikely to improve the market in the short term.
Game and the wider market have suffered as high inflation and muted wage growth stifles spending power, while the industry also claims to be nearing the end of a hardware cycle.