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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/game-discounts-would-hit-margins.jpg"><img class="alignnone size-full" title="Game Group has warned profit margins would be hit as it runs more promotions" src="http://londonglossy.com/wp-content/uploads/2010/12/min-game-discounts-would-hit-margins.jpg" alt="Game Group has warned profit margins would be hit as it runs more promotions"/></a></p>
<p>Video games and consoles retailer Game Group has warned profit margins would be hit as it runs more promotions to reverse falling sales.</p>
<p>But the company said it was encouraged by an improved performance in recent weeks, helped by record-breaking sales of new game releases Call of Duty: Black Ops and FIFA 11.</p>
<p>Like-for-like sales in the UK and Ireland were down 7.6% in the 18 weeks to December 4, compared with a 16.2% decline in the first half.</p>
<p>Game, which has 641 stores in the UK and Ireland, said sales of second-hand games and consoles were on the rise and will make up 25% of its turnover this year, against 21% the previous year.</p>
<p>The group&#8217;s recent sales improvement comes after a difficult first half saw it report underlying pre-tax losses £18.8 million in the six months to July 31, compared with profits of £14.5 million a year earlier.</p>
<p>However, shares in the firm have dropped 6% after its gloomy news on profit margins.</p>
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