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GW Financial report
CyberShadow
 Post subject: GW Financial report
PostPosted: Tue Jul 31, 2007 11:38 am 
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Financial report here:
http://investor.games-workshop.com/latest_....ts.aspx

Warseer discussion here:
http://www.warseer.com/forums/showthread.php?t=96317

Interesting reading. From a pre-tax profit of 3.7 million pounds last year, to a 2.9 million pound loss this year!  ???

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Warmaster Nice
 Post subject: GW Financial report
PostPosted: Tue Jul 31, 2007 12:37 pm 
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Well although I'm not expert, it doesn't sounds like there's much news there...

"Yes, business is still going bad, yes we'll still turn things around...soon..."

I wonder exactly what the "increased focus on sales" involves? If the products themselves doesn't change then that'd leave either more agressive marketing or price changes... and I seriously doubt we'll evef see any price drops from GW...

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Otterman
 Post subject: GW Financial report
PostPosted: Tue Jul 31, 2007 1:04 pm 
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mageboltrat
 Post subject: GW Financial report
PostPosted: Tue Jul 31, 2007 1:10 pm 
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They had already said they were going to make a loss as they were going to put the entirety of the cost of the management and support shuffle onto last year. No new news.

"increased focus on sales" I think is a bit more complicated a issue than just power selling. What needs to be done is smarter selling, selling the right thing, bringing in new customers and building up trust with the customers we have, all these things will bring in more revenue, there are stores out there that don't do this...

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nealhunt
 Post subject: GW Financial report
PostPosted: Tue Jul 31, 2007 1:32 pm 
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Gah.  Now I remember why I stopped reading Warseer...

Like Ratty said, no big news.  Same trends as the last 4 years or so.  Continued slow decline in revenues and since they were having a down year and close to zero profit anyway, they anted up all their restructuring costs into one lump sum.

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Dave
 Post subject: GW Financial report
PostPosted: Tue Jul 31, 2007 1:36 pm 
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In talking with some independent store owners the hobby industry on a whole is on a rather down swing.  There's no really big "Mommy I gotta have it!" items out there now.

The LotR bubble has popped, the CMG market isn't there anymore as there's plenty of singles to be had uncollectively on eBay, and even the Pok?mon league DS and I are in is dead ( :p ).

This is not to say the GW's policies are not at fault.  Sooner or later after you start making your hobby magazine into an catalog, charging $15 or more for a single 28mm figure, and opting not to cater to those older gamers with more disposable income your profits are going to suffer.

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Mojarn Piett
 Post subject: GW Financial report
PostPosted: Tue Jul 31, 2007 1:45 pm 
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(Warmaster Nice @ Jul. 31 2007,14:37)
QUOTE
I wonder exactly what the "increased focus on sales" involves?

I bet we have seen it already: Codex Apocalypse. An attempt to make everybody to buy even more minis to get Apocalypse-sized armies. And it will involve "Mommy I gotta have it!" (Baneblade, etc) as we have seen.

Next it's going to be the same for Warhammer (boy, am I startinng to reopeat myself or what?  :blush: ).

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Dwarf Supreme
 Post subject: GW Financial report
PostPosted: Tue Jul 31, 2007 3:50 pm 
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(Dave @ Jul. 31 2007,08:36)
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In talking with some independent store owners the hobby industry on a whole is on a rather down swing.

I heard the exact same thing from a (now former) hobby store owner. There's been a general downturn in the hobby industry, going on about five years now. I don't about other parts of the world, but I can think of about a half dozen hobby stores that have closed in Connecticut.

No surprises, but I am a little worried about the implications of Kirby's "refocusing on sales." We pretty much know that we'll see nothing for Epic for at least two years, if ever. I really hope GW decides not to pull the plug completely on SG.

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Moscovian
 Post subject: GW Financial report
PostPosted: Tue Jul 31, 2007 3:56 pm 
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Maybe they won't have enough money to run their Legal Department to send off nasty-grams about IP infringement...   :p

Wishful thinking, of course.  There is always money for lawyers. :blues:

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TheLimey
 Post subject: GW Financial report
PostPosted: Tue Jul 31, 2007 10:03 pm 
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My FLGS has gone from heavy roleplaying to a GW and board game dominated storem, and it seems to be doing ok, but I do know that is a rarity.

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kr00za
 Post subject: GW Financial report
PostPosted: Fri Aug 03, 2007 9:59 am 
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Shame... but we all knew what the results would be... so its not realy news.
The way GW is managed realy beggers belief sometimes.
Whens the last time they released a 40K codex that wasnt unbalanced or ?full of badly writen rulez that were then open to abuse by power players?
If ya cant get the basics right what chance to you stand?
People ark on about the LOTRs sucking the profitz outa GW. But this is only a ?small problem when you concider the loss they make because of the overheads of GW Stores. I cant remember ever seeing more than five people in a store at any one time unless it was a games night... and most of them are just 'brousing'
Makes no sence as a bussiness to keep them open. Im not sudjesting GW should shut them all down... but alot of them could go.
The one at BlueWater shopping certre in Kent is a prime example. Gork knows what the rent is on that place but it certainly isnt cheap, and thier sales couldnt possibly break even. There must be a more cost effective way to promote themselfs.
Whichever way you cut it... tabletop war gaming is a neesh market. You can promote it as much as you like but at the end of the day... your unlikely to perswaid people that just aint interested in war gaming. I think there in lays a problem coz alot of GW's big bodz are war game fanatics and it seems they find it hard to grasp the concept that most people aint interested in thier beloved hobby.
Personly I think the way to boost profits is to 'scale down' the bussiness and get the things you do right.
Theres no good opening more n more stores if all they do is cost you money n bring in very little new bussiness.

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nealhunt
 Post subject: GW Financial report
PostPosted: Fri Aug 03, 2007 1:32 pm 
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Krooza:  They've spent a lot of money re-arranging their corporate stores in the US because of things like that.  I had assumed that they had done so in the UK as well.

I think you may be underestimating the profitability of the stores.  The one here in town looked borderline dead most of the time as well.  However, in bits and pieces I pulled information about total sales, margins and so on out of the managers (especially after they announced the store closing and the guys had little to lose).  The store was in probably the single highest-rent commercial space in town.  It turned an operating profit almost from the day it opened it's doors.  It made a net profit (recovering all buildout costs) after 3-4 years.  That's hardly cornering the market, but it's not terrible for a niche retail spot.

The dorked up thing to me, is that they closed the store.  Even with non-store overhead (regional management and such), I think they were netting a positive cash flow for the company.  They closed it because their marketting people had decided on a new grand plan for where they wanted to place stores for optimum impact, and Nashville was no longer on the list.

No doubt there were probably some other factors, like canabalizing indy stores' sales, that would offset the profitability somewhat but even taking that into account I have a hard time reconciling that business decision with any sort of rational thought.

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kr00za
 Post subject: GW Financial report
PostPosted: Fri Aug 03, 2007 3:04 pm 
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Dunno... Ill take your word for it. Maybe things over er are different coz all the onez Ive seen appear to be big money pitz :;):

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The_Real_Chris
 Post subject: GW Financial report
PostPosted: Tue Oct 30, 2007 7:38 am 
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PLace like Bluewater, despite being a souless construct that has a shop dedicated to fairies and therefor my daughters soul, is aout as close to marketing as GW get. Money out money in wouldn't be all of it, they would want the advertising to the gangs of yoof that roam around all hours of day and night.

Plus I bought my BFG stuff there in the sale and they gave me a load for free, the manager was thrilled at having an opponent.

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blackhorizon
 Post subject: GW Financial report
PostPosted: Tue Oct 30, 2007 7:52 am 
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