Skyrockets in Flight – Virgin Megastores Game Sales Up 111%

Outselling any other source of media, videogames are the reason that Virgin Megastores have reported Q4 2007 sales being up 11.5% compared to Q4 2006. Videogames sales were up a whopping 111.9% with DVD and fashion sales up as well, which led CEO Simon Wright of Virgin Entertainment Group, NA to state that “It is the second consecutive year that sales have way exceeded our expectations”.

Wright continues: “We started seeing positive results in 2006 from our diversification strategy and the sales in those departments continued to climb throughout 2007. Virgin Megastores are being recognized as an entertainment lifestyle destination, rather than solely a music retailer.”

Although the US chain of Virgin Megastores has been closing up shop around the country, with only only 10 stores remaining in the US, Virgin Megastores is focusing on its new retail website. “We’re trying to reposition the business,” Wright told the LA Times, “and a lot of our stores are too big for the future, primarily due to the drop in music sales.”

I guess cheers or jeers (which ever way you fly) should go out to the popularity of the portable MP3 player for that – but of course it is entirely the record industries fault if we want to be frank about it. However, this makes me happy for Virgin founder Richard Branson who is on his way to having more money than God. Maybe that could be his next venture in his quest to set as many records as possible – “Having More Money than God” would look cool in Guinness. Plus, this nice little bit of pocket change he has earned – thanks to consumers hungry for games – will help add to his Virgin Galactic coffers. That is until one of his space vacation vehicles blow up.

Thanks: GamesIndustry.Biz