Easter PS2 business rockets EB sales
It's a 'major stimulus'
Games retailer Electronics Boutique is enjoying the benefits of having stocks of PlayStation2s, but it increased profits without having steady supply of the consoles.
The UK chain has reported net profits of £3.7 million for the year to 31 January, up from £292,000 for the year earlier. Total sales climbed 22 per cent to £307 million. Gross profit margins improved to 32.7 per cent.
The company bought rival high street operator Game in June 1999, which gave it more than 30 per cent of UK market.
In a statement EB said: "Since mid-March, we have seen steady availability (of the PS2). It has provided a major stimulus to our industry and to our business."
Over Easter, EB stores which had been open for more than a year enjoyed a 31 per cent rise in sales. This was due to the ready availability of the PS2, and the arrival of more games for the console. ®