Revenue is down in all sales markets including North America (-15%), the U.K. (-12.2%), Continental Europe (-14%), Australia (-18%), and Asia (-18%) during the aforementioned six month period. That time frame also saw the opening of twenty seven new stores as well as the shuttering of twenty stores. GW Chairman and acting CEO T H F Kirby states the company now has “costs under control” and “margins remain strong.” Kirby also indicated the move to stores operated by a single individual “insures that new openings are profitable.”
The reality is GW continues to lose market share around the globe, especially in North America, due to two factors: A) Changes to how retailers can order and restock GW products have made carrying GW lines a bigger headache and even less profitable for independent game stores and, B) Many new competitors offering vibrant and affordable alternative systems which have grabbed the imagination of miniature gamers while GW continues to rehash and repackage offerings in what appear as nothing more than attempts to bleed customers’ wallets dry.
While GW continues to release interesting and high quality miniatures, their treatment of independent retailers, insane pricing model, and seeming constant cash grabs will only accelerate the downward trend of the once rock solid company.
