GAME expansion plans on target

Retailer GAME made a £7.2 million profit on sales of £77.6 million for the year to May 1998, and claims to be on target to double its number of stores in the next three years. The results, the first since the retailer floated on the stock exchange in June 1998, show sales up by 48 per cent from the previous year, and a massive increase in profit from just £406,000 in 1997. "No single product accounted for the good results," said financial director Nick Warran-Smith."But sales of PC games continue to be strong." According to Warran-Smith,the plan to increase the number of stores from 65 today to 120 in 2001 was realistic. He said the biggest problem would be finding that number of prime high-strata sites in suitable locations. GAME has good coverage across England, but wants to increase its presence in Scotland and Ireland, Warran-Smith said. The flotation raised £8.5 million, which has been earmarked for the expansion. "We have a hit list of towns we want to be in" he said " But it is not always possible to get the right site at the right time."