Gaming
EA concerned about financial state of GAME?
Published Thursday, Feb 2 2012, 10:23 GMT | By Liam Martin | 35 comments
Electronic Arts has expressed concerns about the financial state of a "major European retail partner", thought to be GAME.
EA's John Riccitiello told investors that the retailer's financial condition could affect future earnings.
"We are concerned with the financial condition of one of our major European retail partners, which could lead to both increased bad debt and lost sales," he said.
Chief financial officer Eric Brown said that the company was "focused on some isolated European retailer issues", admitting that a "negative outcome could adversely affect Q4 results", reports MCV.
Yesterday it was reported that GAME is facing possible supply issues after losing credit insurance with a number of publishing agencies.
The high street retailer's ability to stock new games is in doubt unless it is able to pay for new stock in cash.
Its shares plummeted by 90% in 2011 despite £1 billion in annual turnover.
GAME is said to be working with suppliers to rectify stock issues, and claims to have "big plans" for the launch of the PS Vita.
Watch the PS Vita E3 trailer below:
EA's John Riccitiello told investors that the retailer's financial condition could affect future earnings.
"We are concerned with the financial condition of one of our major European retail partners, which could lead to both increased bad debt and lost sales," he said.
© EA
Chief financial officer Eric Brown said that the company was "focused on some isolated European retailer issues", admitting that a "negative outcome could adversely affect Q4 results", reports MCV.
Yesterday it was reported that GAME is facing possible supply issues after losing credit insurance with a number of publishing agencies.
The high street retailer's ability to stock new games is in doubt unless it is able to pay for new stock in cash.
Its shares plummeted by 90% in 2011 despite £1 billion in annual turnover.
GAME is said to be working with suppliers to rectify stock issues, and claims to have "big plans" for the launch of the PS Vita.
Watch the PS Vita E3 trailer below:
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