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Games Workshop carries more risk

The hobbyist retailer is investing heavily in growing its business, but could recruitment issues and falling online sales get the better of it?
Games Workshop carries more risk

Games Workshop (GAW) may have revealed record sales and profit growth during the six months ended 2 December 2018, but that doesn’t mean these numbers were perfect. Despite reporting growth across all channels - retail, trade and online – sales generated via the latter fell, compared with a decent sales acceleration across retail stores and the trade division. But even at the retail segment, Australia and New Zealand struggled to show signs of growth, and bosses admit that recruiting new store managers “remains a key area of focus” to retain existing customers and re-recruit lapsed ones.

IC TIP: Hold at 3,145p

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