Games Workshop's report for the fiscal year that ended in June is out. As I mentioned last year, their report is interesting not just to Warhammer fans, but to gamers in general, since it's probably the only publicly traded company that's focused on non-computerized hobby gaming.
The news this time is mixed. Sales are largely flat and still down from their 2004 peak. A tiny sales increase in North America is not keeping pace with inflation. However, the figures don't capture any of the sales from the new edition of Warhammer, which I think should improve things in the current period ($75 rulebook - gulp).
The company's profits are up thanks to cost-cutting, and it's managed to pay off its debt and pay a dividend. That's good - it means that even if it can't reignite growth, it can keep humming along.
They'll keep opening stores, but it will be largely of the one-man kind. They're also introducing a sales training approach they call Retail Standards, developed in their Australian stores. We'll see what that's all about! Maybe they'll barbecue shrimp in the stores.
A bit distressing is that GW doesn't seem to have a presence in China. That's the big growth market in the world today, and those kids need something better to do than playing World of Warcraft in Internet cafes.
http://investor.games-workshop.com/down ... Report.pdf
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