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GW's full year Profit Report.
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Old 29 Jul 2008, 10:48   #1 (permalink)
Shas'La
 
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Default GW's full year Profit Report.

http://www.hemscott.com/news/static/...65852586695432

This is more or less good news, but I know there is more to this than this number being posted.

I'll try to find out a few things if I can.

I am cautiously optimistic.
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Old 29 Jul 2008, 11:08   #2 (permalink)
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Default Re: GW's full year Profit Report.

Well, I've read the financial report this morning (apart from Tom's preamble, which I couldn't face).

On the surface it appears GW made a profit this year, which they put down to the Cost Reduction Plan, so some such. Losing the bits service was part of this as well as closing some 18 or so hobby centres worldwide that weren't making a profit, with a further 15 or so (in the UK) that are under negotiation). They're looking at potentially more profitable locations with a view to growth.

However, I'm no analyst so I leave it to you to cut through the haze of ambiguity and management-speak!
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Old 29 Jul 2008, 13:15   #3 (permalink)
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Default Re: GW's full year Profit Report.

Well that's pretty good, a profit of about half of the loss last year. Oh well, revenue only increased by a thrid of the gap so they've managed to cut an extra £2 M.

I hope that the next thing they'll do is drop LOTR. I haven't seen anyone buy it in the store recently and it's just wasting shelf space.


Edit: Actually that's not quite as good as I thought, some of the £2 M cost reduction was by not paying dividends which doesn't sound brilliant. And they're going to have to do the same next time round.

But despite closing 22 stores sales didn't decline. But for some reason 6 of the stores they closed were profitable. You'd have thought they'd have kept them.

Oh well, they're planning to expand with 8 new stores. But they'll probably close in a couple of years.
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Old 29 Jul 2008, 13:33   #4 (permalink)
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Default Re: GW's full year Profit Report.

Quote:
Originally Posted by TGS the over-ambitious
Well that's pretty good, a profit of about half of the loss last year. Oh well, revenue only increased by a thrid of the gap so they've managed to cut an extra £2 M.

I hope that the next thing they'll do is drop LOTR. I haven't seen anyone buy it in the store recently and it's just wasting shelf space.


Edit: Actually that's not quite as good as I thought, some of the £2 M cost reduction was by not paying dividends which doesn't sound brilliant. And they're going to have to do the same next time round.

But despite closing 22 stores sales didn't decline. But for some reason 6 of the stores they closed were profitable. You'd have thought they'd have kept them.

Oh well, they're planning to expand with 8 new stores. But they'll probably close in a couple of years.
Spose there's always going to be a "suck it and see" element where new stores are concerned. You can't always predict if it's going to be profitable or not.

On the LotR subject, I'd be interested to see whether the rumoured Hobbit film helps in that area. I agree that it's been a bit of a poisoned chalice, but to a certain extent that just because it's not plugged enough in stores, at least in my experience. We do have a small number of avid LotR players, and a few people come in to buy who don't necessarily play in store. But surely it's not really the shelf space that's the issue, it's the company's expenditure associated to the range. They've continued to actively develop it, which is what really gets me... if it's not paying, why continue?
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Old 29 Jul 2008, 14:41   #5 (permalink)
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Default Re: GW's full year Profit Report.

Ugh.. I really hope GW knows what they are doing and can turn things around. The report really doesn't say anything about GW changing their core business model at all - only that they have made a relatively small profit for a multi-national firm. It's good news, but it doesn't instill me with confidence.

I'm skeptical that GW's recent profit year is due to anything more than luck. They may have made a small profit, but raised product prices and closed a lot of stores to do it. They closed unprofitable stores, but not unprofitable product lines (ie: LOTR, lol). Worse, their official sales strategy (according to the redshirts and independents I've talked to), while aggressive, is extremely short-term focused, and tends to rub a lot of ppl the wrong way (customers, indep. retailers). Basically, there are very few GW stores I am willing to step foot into anymore because of hawkish service. Finally, something I always felt was that GW suffered a lot from over-expansion in the 90s - especially in how they always chose to settle in the most expensive places despite catering to only a very niche-type market, in which there is more competition today than ever before. This new expansion plan they have laid out for this year just tells me that they have just not learned their lesson.

Quote:
6 of the stores they closed were profitable. You'd have thought they'd have kept them...
Some of them may actually be in the process of being "re-located" (ie: are among the 8 to be opened). It happened in my area. The flagship store in my city was closed, only to have the same staff reappear a short while later at a big new uptown store. Though the new shop is in the middle of nowhere IMO, I'd imagine that this has become the new flagship store for my town.

Who knows? :-\
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Old 29 Jul 2008, 16:10   #6 (permalink)
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Default Re: GW's full year Profit Report.

Without being able to look at the Financials, its hard to comment on the bottom line number. Is the 1.1mil profit from accual operating income, or is it gain on sales of Fixed Assets and other one time sales?

As for the LotR game, I have heard rumors that they were required by contract to produce X number of new products per year for Z years. I don't know if this is true, but it if it is then it would explain why they are releasing new models and new rules on a game system that is not really being played. I know more people that play the speciality games than LotR.
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Old 29 Jul 2008, 16:42   #7 (permalink)
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Default Re: GW's full year Profit Report.

Floobasaurus are you talking about the Toronto store, forerly the EC one?

If so that wasn't a closure, that was a move. They never said it was anything but. It was just a very far move, going from super downtown, up to the middle of nowhere. '

The new location is nice though, just far.
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Old 29 Jul 2008, 21:27   #8 (permalink)
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Default Re: GW's full year Profit Report.

Quote:
Originally Posted by TGS the over-ambitious
Well that's pretty good, a profit of about half of the loss last year. Oh well, revenue only increased by a thrid of the gap so they've managed to cut an extra £2 M.

I hope that the next thing they'll do is drop LOTR. I haven't seen anyone buy it in the store recently and it's just wasting shelf space.


Edit: Actually that's not quite as good as I thought, some of the £2 M cost reduction was by not paying dividends which doesn't sound brilliant. And they're going to have to do the same next time round.

But despite closing 22 stores sales didn't decline. But for some reason 6 of the stores they closed were profitable. You'd have thought they'd have kept them.

Oh well, they're planning to expand with 8 new stores. But they'll probably close in a couple of years.
I get information from many sources. I am however cautious on this report. Just because of all of the disinformation I have receive with these people over the years.

But I posted for all others to see and evaluate.


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Old 29 Jul 2008, 23:27   #9 (permalink)
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Default Re: GW's full year Profit Report.

Quote:
Originally Posted by Falstead
Floobasaurus are you talking about the Toronto store, forerly the EC one?

If so that wasn't a closure, that was a move. They never said it was anything but. It was just a very far move, going from super downtown, up to the middle of nowhere. '

The new location is nice though, just far.
The Eaton Centre Store is gone now? When'd that happen?
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Old 30 Jul 2008, 02:30   #10 (permalink)
Shas'Ui
 
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Default Re: GW's full year Profit Report.

Quote:
Originally Posted by JBunny
As for the LotR game, I have heard rumors that they were required by contract to produce X number of new products per year for Z years.
Don't know if that's true either, although a binding contract of some sort would make a lot of sense... Yet somehow I find myself wondering if GW would have dropped LotR even if they could.

Quote:
Originally Posted by Falstead
Floobasaurus are you talking about the Toronto store, forerly the EC one?

If so that wasn't a closure, that was a move. They never said it was anything but. It was just a very far move, going from super downtown, up to the middle of nowhere. '

The new location is nice though, just far.
Yes, I was talking about that... I always had a feeling you went to that store! (your old avatar w. the tau army seemed awful familiar :shifty.

Anyways, I heard about it from a friend who used to work there. He said it was a close... Oh well, just semantics.

@Jordan: since that's not my regular store, I don't remember the specific date, only that it's been that way since at least before the start of the month.
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