Games Workshop reported its fiscal year 2009 results for the year ended May 31, 2009, and its sales and profits improved both globally and in North America.  Sales were up by 3.3% (in constant currency) to £113.9 million.  North American sales were up 3%; all territories were up except Continental Europe, which declined. 

 

Operating profit increased by £6.5 million to £9.0 million behind the sales growth, increased margin due to higher prices, and cost controls. 

 

North American operations were affected by the ongoing closing of mall-based stores and their replacement with strip mall locations, which offer lower rents and more control over opening hours.  Management is promising double digit openings in North America in the coming years.    

 

The positive results were achieved despite a disappointing holiday season; sales returned to growth in the most recent quarter.