GAME Looking to Buy HMV Stores

by William D'Angelo, posted on 18 January 2013 / 2,835 Views

Now that HMV has entered administration video game retailer GAME is looking to acquire some of its stores. GAME CEO Martyn Gibbs is talking with HMV administrators Deloitte. The HMV stores are in locations where GAME is not located, according to the Financial Times. GAME is interested in 45 stores.

Gibbs said that holiday sales were ahead of the company's expectations and is confident GAME will reach its £20 million earnings target at the end of its fiscal year in July.

"We will constantly review our property portfolio based on what is available," said Gibbs. "I would not rule out any stores becoming available, be that through an administration or normal property deals."

GAME was just rescued from administration in April 2012 by OpCapita. GAME had closed 277 of its stores when it went into administration. If GAME is able to purchase the 45 stores it will help fill in some of its gaps.


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5 Comments

SecondWar (on 18 January 2013)

The logic behind this is a bit confusing if the 45 stores in question are located in areas where some of the 277 closed GAME stores used to be.


happydolphin (on 18 January 2013)

The article said "The HMV stores are in locations where GAME is not located, according to the Financial Times. GAME is interested in 45 stores."

Why is it that you get thumbed up?


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SecondWar (on 18 January 2013)

The stores in question are where GAME are not currently located, it doesn't say whether the stores in question are in places where GAME used to be.


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happydolphin (on 18 January 2013)

Ahh, so you're the one thumbing yourself up and others down. Got it!

If game is no longer there, it's not an issue.


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SecondWar (on 19 January 2013)

If the old GAME store wasn't profitable in that location, why would another unprofitable store bought from HMV be any different? If fact, as HMV stores are generally larger than GAME stores, under GAME they might be even less profitable.


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happydolphin (on 19 January 2013)

You don't know that they were unprofitable, but keep thumbing yourself up and others down, makes you look great.


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happydolphin (on 19 January 2013)

You just know that GAME was profitable, but you don't know if, in the HMV locations, they were unprofitable. And HMV isn't game, they don't have the same products, so their failure doesn't mean so much.


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happydolphin (on 19 January 2013)

And to your original reply "It doesn't say whether the stores in question are in places where GAME used to be", I don't know why the article should mention that. It doesn't say it, so we can only assumed that they were never there, or if they were they were possibly mismanaged, the sale of the venue was frugal, and now they're getting better prices on buying from a dying store. Ie, there is so much unknown in here it's hard to being answering your concern. But I do understand, if GAME was not doing well, and were in those places, why try again? Well, 1) why try in the first place? Why even stay alive? 2) there is a new gen coming, so money to make. The whole you being thumbed up and me down is really what's the mose confusing part of this article.


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SecondWar (on 20 January 2013)

For the record I am not thumbing myself up. Even if I was, I can only do it once per post, so clearly some people agree with me.

GAME appear to be doing much better than they were a year ago, but the last time they bought out a competitor the consequences for GAME were terrible. They are probably being quite selective about which HMV stores they are trying to buy, but the article does not make it clear whether they are in locations where GAME used to be.

If they are, considering the store was closed because it was losing a year ago, why are they going back so soon when their industry is in an even worse state? Leaving the old store open would have been cheaper.
If they aren't, consider HMV and GAME sell similar products and compete in a industry under increasing pressure from internet retailer why do GAME think they will be successful when HMV have failed? (the stores in question are likely to be loss-making as the administrators will likely want to hold onto the profitable ones for the time being).

All I am mostly questioning things that aren't made clear in the article, where as you am making assumptions. That is probably why I'm being thumbed up and you're being thumbed down.


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happydolphin (on 21 January 2013)

You're also assuming that the sale of the prior venues (where the stores were) and the purchase of the new HMV locations was not a frugal transaction. So you too are assuming.

It's a valid question, but I don't think it's up to the article to list all of that.


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DareDareCaro (on 19 January 2013)

Dunno, but in Quebec,canada the HMV brand is dead.


NotStan (on 22 January 2013)

Logic, a company enters administration after majorly fucking up in the highstreet, has to close stores and fire a ton of people. Less than 6 months looking to buy more stores..


Ledreppe (on 18 January 2013)

It will be a disaster if Game buy some HMV stores. They will gain a bigger foothold in the UK and overcharge even more with less HMV stores as rivals.


happydolphin (on 18 January 2013)

Get bought buy out.


happydolphin (on 21 January 2013)

To those who thumbed this down, explain what's wrong with the post.


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ganoncrotch (on 21 January 2013)

I did for one, sorry HappyD but that just doesn't make grammatical sense, I've read it a couple of times trying to understand what you meant but can't, no hard feelings mate.


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