Despite shares in GAME dropping more than 50% in recent weeks (as reported by Edge), the retailer has come out all guns blazing as it looks to stabilize the perilous situation it finds itself in.
Speaking to MCV, the CEO Ian Shepherd said "It is very easy to look at any retailer on the High Street and write an apocalyptic headline", before adding: "We are also a strongly cash generative business. Even with the guidance we have given now, where industry analysts are concluding that we will probably make a loss this year. Even in that circumstance we will still generate operating cash flow. And cash is king."
He continued: "[we] are working incredibly hard to grow new revenue streams...... our performance within the market I will hold up against anybody else". That sounds like fighting talk, and that's exactly the attitude that GAME will need to take if they are to continue to compete against the rise of the online retailers and the spending power of the supermarkets.