Game on as retailer produced a record-breaking Christmas

Game’s owners – said to include United States-based fund Elliott Advisers – are thought to be poised to appoint three advisers to put together plans for an initial public offering later this year.

HSBC, Canaccord Genuity and Liberum Securities are said to be likely to co-ordinate the float.

But a company spokesman declined to comment on a possible float when asked by the Yorkshire Post.

Reporting on the six-week period to January 4, Game said that total sales were up 83 per cent year-on-year compared to market growth of 53 per cent.

Meanwhile, like-for-like store sales, which strip out the closure of shops, were up 90 per cent and online sales up 213 per cent, said Game.

Around half of the chain’s roughly 600 UK premises have closed since April 2012.

Martyn Gibbs, chief executive of Game, said: “In a market delivering rapid growth, Game achieved record market shares across all product categories.”

Mr Gibbs, a former HMV executive, said that this “strong” overall performance for the company was driven by its ability to capitalise on the launches of two new games consoles: Microsoft’s Xbox One and Sony’s PlayStation 4.

He added: “This was supported by the release of well-received new games, significant growth in online and digital sales and the continued success of our pre-owned games offering.”

The launch in September last year of Grand Theft Auto 5 – the fastest-selling video game in history – boosted sales at Game.

The firm, which employs approximately 3,000 staff in 320 stores, appointed professional service giant PwC as its administrator after failing to find a buyer for the business in March 2012, and is now owned by private equity investors including Op- Capita.

OpCapita was widely criticised for its handling of collapsed consumer electricals chain Comet, which it rescued before calling in administrators less than a year later.

Mr Gibbs, who was managing director for Game in the UK and Ireland and Northern and Eastern Europe, was appointed chief executive of the firm to lead the turnaround.

Game made £15m in underlying earnings in the year to the end of July and is expected to more than double that figure in the current year.

Mr Gibbs said that Game’s Christmas trading figures reflect the transformation over an 18-month period of the operational and financial profile of the business.

He said: “Investments in store team training and a far-reaching store improvement programme meant we were well prepared for the launch in November of two long-awaited new consoles.

“These improvements allowed us to serve more customers and improve our delivery of digital propositions, including new Xbox One and PlayStation 4 experiences from Microsoft and Sony.”

Game said that its omni-channel offer was boosted by improvements to its website, its mobile site and the introduction of its Game app, while the company also recently extended its trade-in offer online.

Game allows consumers to trade in their games both in store and now online.

They can use its ‘price checker’ to find out the value of their unwanted items.

“Investment in our digital content platform drove record digital market share through in-store and online sales,” said Mr Gibbs.

Mr Gibbs said that gamers and customers buying gifts are coming to Game because of its in-depth product knowledge, its access to stock and exclusive content and the various payment options available to them.

“We now have one of the biggest reward card schemes in the UK and we have recruited significant numbers of new customers to the scheme over the period.

“This is providing us with a rich seam of customer insights with which to plan ahead with our supplier partners.”

Mr Gibbs said: “Looking to the future, we see strong momentum in our industry and our business as the new generation of consoles and related products take hold.

“Meanwhile we are continuing to invest in our digital delivery and expect to see revenue from digital content increase significantly in 2014 and beyond.

“Our brand strength and position as a hub for the gaming community leaves us well placed to benefit from both trends.”

He also thanked Game’s teams around the UK and supplier partners “who have all worked so hard to plan and execute a record-breaking Christmas period”.

“We look forward to sharing in further success in 2014,” Mr Gibbs concluded in yesterday’s Christmas trading statement to suppliers.

Game has stores across the Yorkshire and Humber region, including in Leeds, Bradford, Wakefield, Harrogate, Huddersfield, Halifax, Keighley, Barnsley, York, Castleford, Sheffield, Rotherham, Doncaster, Hull, Scunthorpe, Scarborough and Grimsby.

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