Games Workshop Ends Sales Slide

Posts Small Loss

Games Workshop has ended its sales slide (see 'Games Workshop Sales Down Again'), according to its interim mid-year results for the half year ending December 2nd, 2007, by posting a small loss on flat revenues for the period.   The company had a 1.1 million pound operating profit before exception items, which turned to a 115,000 pound loss after restructuring costs and much higher financing costs.

Sales in the Americas were up from $22.9 million in the first half year ago period to $24.2 million in 2007, a 6% increase, after declining in the previous fiscal year.  The increase was attributed to higher sales to independent retailers and higher Internet sales.  Sales through company stores in the America were flat; nine of the 17 planned store closings had been completed as of the end of the period. 

Games Workshop has emphasized sales to independent retailers under new U.S. management (see 'Interview with Steve Morgan, Part 1').