Games Workshop sales down, stock tumbles!

[Brent]

Games Workshop has released its quarterly numbers, and its sales are down 12% compared to the same period last year.

As a result, their stock has lost 25% of its value, just today.

I saw this on Tabletop Gaming News:

http://www.tabletopgamingnews.com/

Given what they've done with prices, I've sure spent less on GW stuff over the last year...it looks like many others have done the same.

[Defenestratus]

Games Workshop has released its quarterly numbers, and its sales are down 12% compared to the same period last year.

As a result, their stock has lost 25% of its value, just today.

I saw this on Tabletop Gaming News:

http://www.tabletopgamingnews.com/

Given what they've done with prices, I've sure spent less on GW stuff over the last year...it looks like many others have done the same.

Worse than that, it appears that *profit* is down 30%

[Thaldin]

I wonder if they forecasted this internally and this is why we are seeing all the changes and sped up release schedule now.

[CrimsonTurkey]

Given what they've done with prices, I've sure spent less on GW stuff over the last year...it looks like many others have done the same.

Yeah, as much as I don't like it, my spending is down to $0 per year. I like the detail and completeness of the new kits, but I simply cant afford it, and given that most of my stuff was stolen a few years ago, to really get back in the game I'd be looking at way too much of an investment.

[Eldar_Atog]

White Dwarf getting an overhaul or cancellation makes more sense now.

I wonder what their reaction will be. Will this open the floodgates on new dataslates and online only suppliments? Ratchet up the release schedule even more?

Should we start a pool now on how much and how soon the next price increase would be? Date and percentage please :)

[Asymmetrical Xeno]

I don't begrudge those that can or are happily willing to pay those prices, but I certainly havent been able to the past few years - even the discounts up to 25% some sites offer is still just "last years" and as such, prices that I cannot afford. To be fair a lot of other games are too much for me nowadays too though, hence I've gone DIY and sculpting/casting my own stuff instead - get exactly what you want then.

[Dimitrios]

I cant say I am not surprised... Someone once wrote an article here on BOLS that said, GW will keep raising prices until it proved commercially unviable to do so any more... well I believe they have hit that ceiling, well at least for the time being anyway. Hopefully this will herald a period of constancy as the prises freeze to stabilise the community.

[miteyheroes]

I've stopped buying. I got every single codex from halfway through 2nd ed to now, but I just can't afford to keep up with all the rules now, with dataslates and the accelerated release schedule. So I'm no longer going for completeness.

WD changing will mean I stop collecting that as well (started with 194, the Necromunda issue).

I'm moving onto Dark Age historicals. The models are cheaper, the rulesets are all cheaper, and you can use the same models in lots of different games. The Gripping Beast plastic vikings are as good as any GW plastic kit, but you get 44 in a box the price of 16 marauders.

Edited to add: http://investor.games-workshop.com/2014/01/16/half-year-results-2013-2014/ for the official GW announcement.

[Popsical]

I made up my mind 18 months ago that my astral claws would be my final and sole 40k army.
Ive sold all my other 40k stuff and nearly finished my claws.
Then its adios GW.
I love the figs, but the constant flux of rules and stats is just too much now. Dont get me wrong the rules have always been in flux, im just older now and prefer stability in my investment.
Im far from the only person i know who feels this way.

Its "all quiet on the martian front" for me this year.

[Deadlift]

I've stopped buying. I got every single codex from halfway through 2nd to now, but I just can't afford to keep up with all the rules now, with dataslates and the accelerated release schedule. So I'm no longer going for completeness.

WD changing will mean I stop collecting that as well (started with 194, the Necromunda issue).

I'm moving onto Dark Age historicals. The models are cheaper, and you can use them in lots of different games.

I'm in a similar boat to yourself, whilst I did get some great GW / FW presents for Christmas this year I can't see me being in a position to buy much if anything from GW this year. The price rise of WD didn't help. I don't begrudge those that that are and GW make some fantastic kits. But me I am getting the X-Wing bug, it's a great game and suits my budget.

[juliusb]

The rules are what's killing it for me. I don't have the time to figure out where to get the rules for some of this stuff! Is it in Apocalypse? Is there a faq on the FW site? Is it 40k approved? Oh wait which version of the FW rules are current? Is there an IA2? Or is it IA version 2? Wait, there's a 40k supplement with rules; so those are the ones I use now? So is it an expansion or a supplement? Does it matter? Will I get complaints when I try to use it in a pickup game? I guess it depends on the player.

Also, I don't like all the randomized rules. The core mechanics are already based on dice rolls, was really necessary to make charge distances and psychic powers random too?

Those are my gripes. I'm going back to chess. Rules are solid and not random and the armies are balanced except that white is I5 and black is I4.

[Stone Edwards]

So to anyone claiming the demise of games workshop, please check out just how the stock has performed over the last few years before making any rash claims. Granted I'm not some financial professional but I can still come up with some general conclusions.

[Cap'nSmurfs]

Given that the comparative figures - six months to December 2012 - saw the release of the new 40K edition, new starter box, new Chaos Space Marines and so on, I wouldn't say it's too surprising. And of course it's not the end of GW. They're still in profit, like they've been for several years now. The press releases keep saying "sustainable growth" for a reason.

Yeah, it's disappointing, but it happens. They're not in any real danger.

Do we really give a damn about the stock market? It's the flailings of idiot children elevated to the status of divine oracle.

[daboarder]

I don't understand, How could this happen, I mean they release an amazing codex like Tyranids with its myriad of potential builds and its amazing and fun rules........oh wait!

Yeah you reap what you sow GW!

Edit: And NO! this is not a "GW is DOOOOOMED" post, smurf's pretty accurate in his appraisal and time will tell.

[miteyheroes]

I don't understand, How could this happen, I mean they release an amazing codex like Tyranids with its myriad of potential builds and its amazing and fun rules........oh wait!

Yeah you reap what you sow GW!

This is the 6 months to December, so doesn't include the Tyranids?

[daboarder]

yes I know, I was taking the piss, and in general I could change that to a generic statement and the point would stand

[Deadlift]

yes I know, I was taking the piss, and in general I could change that to a generic statement and the point would stand

Hang on you didn't even mention the Chaos Marines codex ;)

[daboarder]

Don't worry Deadlift, I was thinking it

[Lexington]

Given that the comparative figures - six months to December 2012 - saw the release of the new 40K edition, new starter box, new Chaos Space Marines and so on, I wouldn't say it's too surprising.
I was thinking the same thing, 'till I realized the Space Marine Codex was released smack in the middle of this financial period.

That's bad.

[Denzark]

Just remember when they issued an actual profit warning? And some phalluses advised doing a boycott because they were vulnerable?

Well look what happened after that - they smashed into the profit. I reckon this is a blip - they are still in profit, just less of it. If I read this right they are not in loss. The only thing I would say is this is the time to get shares, when they are down.

Luxury item in a recession? It doesn't take sherlock to work out they will bring in less.

[Lexington]

Luxury item in a recession? It doesn't take sherlock to work out they will bring in less.
The common wisdom on luxury items (quoted pretty often when it comes to GeeDub financials, actually) is that they sell just fine in a recession. More, this particular recession has been going on for, what, six or seven years now? GW's lot during this time has gone up and down in a way that suggests they're not particularly affected. Also, wargaming as a whole? Doing just fine, if you look at the rest of the market. Privateer Press has exploded in the last three or four years, and games like Infinity, X-Wing and Dystopian Wars have all gained the sort of player base that hasn't been seen since Warzone and VOR took a shot at it fifteen or so years ago.

I couldn't tell you the actual causes of GW's current financial woes, but the signs point to self-infliction. They'll recover, I'm sure, but what they do to right the ship is going to be "interesting."

[Wolfshade]

This is already being discussed here: http://www.lounge.belloflostsouls.net/showthread.php?40713-Games-Workshop-s-stock-loses-24-value-today-It-has-begun