New consoles boost Christmas sales at retailer Game

Game, a video games retailer bought out of administration by private equity investors last year, reported a significant rise in Christmas sales helped by new console launches ahead of a possible return to the stock market. A source familiar with the situation told Reuters that Game was close to appointing advisors for an initial public offering expected to take place later this year, with HSBC , Canaccord Genuity and Liberum Securities likely to co-ordinate the float. The video games retailer reported a 83 percent rise in total sales in the six weeks to Jan 4, with a 213 percent in online sales. Like-for-like store sales, which strip out the closure of shops, rose 90 percent it said.

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