Virgin has announced its 4th quarter sales results for its Virgin Megastores retail chain, showing growth of 6.6 percent in December and 11.5 percent over 2007's ending quarter. In particular, these results were driven by a 111.9 percent growth in video game sales, which superseded growth in other media categories.
The gaming spike comes on the heels of the company's announced
70 percent growth in game sales in the second quarter of 2007, also outpacing sales of other media at that time.
The U.S. chain of Virgin Megastores has also announced the launch of a new retail website, VirginMega.com, a "social media online newsroom," VirginMegaMashup.com, and a customer feedback bulletin board.
The company credits its strategy of diversification across multiple entertainment categories for its strong performance. The 111.9 percent growth in video game sales comes alongside DVD sales up 18.1 percent and fashion sales up 35.1 percent.
Marketing vice president Dee McLaughlin commented, "Marketing our brand as an entertainment retailer has been key to our success. We've expanded our product lines heavily in the past year into fashion, accessories and personal electronics. There's more to do in our stores these days. It's a fun place to shop -- whether you're a gamer, a pop culture junkie, fashion maven, music fan, looking for hard-to-find DVDs, designer electronics, or coming in to check out one of [our] live in-store performances."