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Zweischneid wrote:Sales volume for GW went UP(!). Says so right there in the report. So no devaluation of their product on this account.


Yes, it also says that they sold 2 million pots of paint in two months time (about 1.5 million in a single month). That isn't actually a good indication of a healthy market. If half (or a third or a quarter...) of the units sold were made up by a one time event you can and should discount that as being relevant.

If, for example during regular sales the average price is £20.00 (looks to be a good number figuring books, troops and various elite unit prices) then in order to get to the £131 million this year they would need to move 6,500,000 units. Now, if you add 2 million units of their cheapest item which were effectively mandatory sales to a lot of customers (distributors and retailers) because you discontinued the previous items - that would look like a 33% increase in sales volume.

It is fake though. Not only is it a one time bump, but it also isn't representative of the actual product line nor the actual market. Now, they can put it in the report without fear of fraud charges. Sales volumes for the year would be up. However, it is either done with a wink and a nod - or the various management people aren't actually looking at the source of the numbers and are getting excited about a 33% increase in sales.

This message was edited 2 times. Last update was at 2012/08/01 13:22:26


 
   
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frozenwastes wrote:That might be a reasonable argument for this years results, but do you think it's still reasonable to apply that reasoning to the last 6 or 7 years?
Stuff...


Pacific wrote:
A good number of products did increase this year, check out the first page of this post with price alterations:
http://www.dakkadakka.com/dakkaforum/posts/list/0/451127.page
More Stuff...




Ok, lets make this as clear as I can. I'm not saying I agree with GW's price rises, or disagree with them. Or that sales are going up or down. What I'm saying is two things:

1) You cannot infer sales data from the P&L
2) GW say in the report sales are up (both volume and profit). What that is from, possibly just paint, but without further information we just don't know (although I'm not sure how much difference the paint made. On a one month basis it would be huge, but would it be over the year? Yes, a whole load had to be purchased at once, but did that mean that in the other months sales were down as the stores had plenty of stock and were not re-ordering? I don't see allot of gamers going out and replacing still useful paint just because it has a different name)

Those are the facts. Lots of people are saying that sales are not up. I asked for a source for this information. Conjecture from the revenue on the P&L is not a fact, and I have explained why. If someone can provide some source that says sales are down I would like to see it. As people say increasing revenue at the cost of sales is a risky thing to do, but I don't see any evidence either way.

This message was edited 4 times. Last update was at 2012/08/01 13:34:56


 insaniak wrote:
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If they had cheaper products their volume might go up and profit might go down due to costs. They have chosen to sell an increasingly smaller amount of more expensive products. It has worked for them. It helps with costs to boot.

Everyone works this way, and it seems to work for them so really the naysayers seem a bit off with this. To those who think its a 'gimmick' this year like paint or whatnot fail to realize they might have a few smart people in their company who will devise a 'gimmick' every year.
   
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Steve steveson wrote:Conjecture from the revenue on the P&L is not a fact, and I have explained why. If someone can provide some source that says sales are down I would like to see it. As people say increasing revenue at the cost of sales is a risky thing to do, but I don't see any evidence either way.


Other than various inferences which have been stated in this thread...

How about something like this:

http://www.icv2.com/articles/news/23501.html

Warmachine has overtaken Warhammer Fantasy as the #2 best selling product line for non-collectible miniature games.

PP actually held number 2 and 3 a few times - http://www.icv2.com/articles/news/15716.html

WHFB has actually been as low as #5 more than once - http://www.icv2.com/articles/news/14724.html

While you could probably find reasons to dismiss the various sources - it remains that GW is loosing volume and market share. If what I am hearing is correct, by early next spring - GW will actually loose its #1 seat as well (both a combination of more other games as well as the increasing popularity of certain other games). If you read through the various articles on ICV2 regarding GW (other than just the ones I linked) you will see a lot of ups and downs in the reporting...but more down than up.

This message was edited 1 time. Last update was at 2012/08/01 13:48:05


 
   
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H.B.M.C. wrote:Is it any surprise that mattyrm's first post is to immediately go on the attack against the nebulous "haters"? I see people discussing financial results, not "haters".


You dont see very well then. Have you actually read the thread? Ill just go back a few posts.. here's one

"I would love to see a poll of how many people that love GW also like Micheal Bay and eating paint chips!"

Yeah that's discussing financial results.

Basically HBMC, you and Phantom Viper and your oppo's just love to give me gak on the rare occasions I post in these threads simply because you don't like being reminded how infantile your position is, that your kicking and screaming and your long list of Jervis sigs and your bizarre habit of taking everything faceless companies do "personally" is truly ridiculous for a grown man. I haven't bought anything off GW for about 2 years, I still don't own the 6th ed book, and I own less than 3000 points of toy soldiers. But you and your little posse who like to slap each other on the back while you give people like me or Kan, or even young kids who are passionate about the hobby reams of gak because they disagree with you are in the wrong and you know it.

You like to throw insults around and bully people but play the hurt feelings card when anyone responds in kind, and the reason I don't like you is because I don't like bully boys, and I don't like entitled dorks that make us all look bad when our girlfriends occasionally peek over our shoulders while we post and go "feth me, is that guy a brilliant satirist or is he 9 years old?!"

As I've said many times before, I find it laughable that grown men take the hobby so seriously, and incessantly complain as if this gak is actually important, as a result I find you and your mates laughable, and I like to point it out to you so you might actually understand that its people like you who give blokes who paint minis a bad name.

Don't buy GW. But don't gob off about the company constantly, and act personally offended when they release products, its getting boring.

Lets have some perspective eh? Jervis is a bloke who works for a big company, he's not a registered sex offender.


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Howard A Treesong wrote:Have their legal costs from the CH case and their various appointments in the IP and legal department started to show up yet? Or are they still to insignificant to warrant mention? No talk of 'fortress walls' this year, or do they save that for another time?


It didn't show up, which means it was expensed, which means that GW doesn't think it's likely that they'll win.


Automatically Appended Next Post:
Zweischneid wrote:I am denying the logic of people concluding that sales went down because price increases > profit increases


Keeping up the strawman? No one is arguing that.

This message was edited 1 time. Last update was at 2012/08/01 13:54:38


 
   
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reds8n wrote:You will get to meet all the people who do the important things and talk to them about their
jobs. [b]You will also get, if such is your desire, a foaming pint of Bugman’s best in our famous bar.


I was last at WH world about two years ago, and all they sold was dog gak lager like Fosters and Carling, they didnt have a single real ale or stout on.

I thought it would be smart to get a local brewer to make them some ale and call it Bugmans best.. maybe they got around to it?

Anyone been lately?

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Steve steveson wrote:
frozenwastes wrote:That might be a reasonable argument for this years results, but do you think it's still reasonable to apply that reasoning to the last 6 or 7 years?
Stuff...


Pacific wrote:
A good number of products did increase this year, check out the first page of this post with price alterations:
http://www.dakkadakka.com/dakkaforum/posts/list/0/451127.page
More Stuff...




Ok, lets make this as clear as I can. I'm not saying I agree with GW's price rises, or disagree with them..


I was responding specifically to this comment, not about the rest of it.
Yes, the price of some products increased, but not all of them (the majority did not increase this year) and without knowing what sold you cannot say that sales are falling. If a company that sell 100 products increased one by 1000% but keeps the rest the same, but only has a 10% increase in revenue it dose not mean that they are selling less.


So just concerning the range of items that went up in price, which isn't admittedly central to the discussion.

As you say it's difficult to speculate on what the other figures can mean, specifically regarding sales volume. I have to be honest though, normally if 'sales' had increased for the general range (other than the new paints, which was a focal point of the announcement) you have to think that they would probably have mentioned that.

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Steve steveson wrote:1) You cannot infer sales data from the P&L


Err...yes you can.

Steve steveson wrote:Lots of people are saying that sales are not up. I asked for a source for this information. Conjecture from the revenue on the P&L is not a fact, and I have explained why. If someone can provide some source that says sales are down I would like to see it. As people say increasing revenue at the cost of sales is a risky thing to do, but I don't see any evidence either way.


There is nothing wrong with infering it, people have to do that all the time with Income Statements. As someone who spent nearly a decade doing this gak in UK retail, I'm happy that the assumptions made by others are broadly fair, and GW has basically stood still again. The fact that they didn't supply an equivalent 52 week comparative in their release is further indicative of this, but they can get away with it because their major shareholders are big institutions who probably skim read the short release and file the full pack without even opening it.

Someone mentioned they seemed to be doing "ok" for a retailer, whilst true, there is no "retailer market", there is a "miniatures/wargames market" and as far as what we can pick up from others in the market, GW have under-performed the market on sales (and given they have a store chain that will eat around 30-40% of their margin, they've probably under-performed the established market on profits), when you hold all the advantages there's no excuse for not substantially out-performing the market.

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skyth wrote:

Keeping up the strawman? No one is arguing that.


/shrug

If noone is arguing that and I simple misread sentences such as the one below, than it would indeed by a non-issue and noone would have cause to disagree with me.

If GW was selling the same or more each year then its revenues would increase in step with their price increases. This hasn't happened and the only real conclusion that can be drawn is that their sales are declining at around the same rate as their price increases.

   
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Steve steveson wrote:
Those are the facts. Lots of people are saying that sales are not up. I asked for a source for this information. Conjecture from the revenue on the P&L is not a fact, and I have explained why. If someone can provide some source that says sales are down I would like to see it. As people say increasing revenue at the cost of sales is a risky thing to do, but I don't see any evidence either way.


Previously you said you didn't require pics. But I don't think anyone except company insiders has the kind of proof you want?
It appears that they did have a good year this year. I'm not super confident saying that this year sales volumes decreased. However, I think it is very possible to make broadly correct statements based upon the P+L statement. Particularly in past years, when profits increased, but revenue was flat, and it was obvious that their profitability only increased through severe (and unsustainable) cost cutting. This year, it's intuitive that seeing as GW raised prices considerably on 'starter' products (battleforces, codices, etc) and their primary market is new customers who require these products, that the marginally increased revenue on miniatures does not reflect the price increase at constant volume. Not proof exactly... but worth consideration, no?
   
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Baragash wrote:
Steve steveson wrote:1) You cannot infer sales data from the P&L


Err...yes you can.


Err... no you can't. Without access to sales data you have no idea if the revenue came from lots of small items or a few big items.

Steve steveson wrote:Lots of people are saying that sales are not up. I asked for a source for this information. Conjecture from the revenue on the P&L is not a fact, and I have explained why. If someone can provide some source that says sales are down I would like to see it. As people say increasing revenue at the cost of sales is a risky thing to do, but I don't see any evidence either way.
Baragash wrote:
There is nothing wrong with infering it, people have to do that all the time with Income Statements. As someone who spent nearly a decade doing this gak in UK retail, I'm happy that the assumptions made by others are broadly fair, and GW has basically stood still again. The fact that they didn't supply an equivalent 52 week comparative in their release is further indicative of this, but they can get away with it because their major shareholders are big institutions who probably skim read the short release and file the full pack without even opening it.

Someone mentioned they seemed to be doing "ok" for a retailer, whilst true, there is no "retailer market", there is a "miniatures/wargames market" and as far as what we can pick up from others in the market, GW have under-performed the market on sales (and given they have a store chain that will eat around 30-40% of their margin, they've probably under-performed the established market on profits), when you hold all the advantages there's no excuse for not substantially out-performing the market.


As someone who has been "doing this gak" for nearly a decade in UK and international wholesale, I do know what I'm talking about too. I agree that they seem to have broadly stood still. What I am arguing against is the people screaming the sky is falling, who every year tell us that GW's losing sales left right and center. I see no evidence for this, but would like to see it if it exists. The only evidence is that sales revenue is up and volume is up. We don't know WHAT cause this. I suspect that they have not provided any further details on sales because they are not as good as the financials seem, and would put a dampener on the headline figurers, and that possibly core sales ARE down. Whether this is down to falling sales propped up by one off stuff that will never happen again, or ongoing solid sales we just don't know.

On the "which market is it in" front, you could argue due to its retail presence and customer profile it is not in the wargames market. I don't see many of the other wargames as a major competitor at this time. Looking at the teen entertainment market would probably be just as valid a comparison.

Trasvi wrote:
Previously you said you didn't require pics. But I don't think anyone except company insiders has the kind of proof you want?
It appears that they did have a good year this year. I'm not super confident saying that this year sales volumes decreased. However, I think it is very possible to make broadly correct statements based upon the P+L statement. Particularly in past years, when profits increased, but revenue was flat, and it was obvious that their profitability only increased through severe (and unsustainable) cost cutting. This year, it's intuitive that seeing as GW raised prices considerably on 'starter' products (battleforces, codices, etc) and their primary market is new customers who require these products, that the marginally increased revenue on miniatures does not reflect the price increase at constant volume. Not proof exactly... but worth consideration, no?


Don't get me wrong, it may well be correct. Personally I am glad to see that they seem to have reached a point of stopping cost cutting and see what seemed in the past to be an attempt to magic up profit growth to now seem to be a sensible re-structure of the company, cutting waste etc.

I do agree that what seems to be the prime market has had items increased in price. If I was looking at them professionally all of the talk of the paint sales would ring alarm bells and I would want to know more. They may well reach the point where sales start to dip too much (and probably will if prices keep going up at what is probably an unsustainable rate), but as it stands I don't see it as a major problem.

This message was edited 2 times. Last update was at 2012/08/01 15:02:32


 insaniak wrote:
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Zweischneid wrote:
skyth wrote:

Keeping up the strawman? No one is arguing that.


/shrug

If noone is arguing that and I simple misread sentences such as the one below, than it would indeed by a non-issue and noone would have cause to disagree with me.

If GW was selling the same or more each year then its revenues would increase in step with their price increases. This hasn't happened and the only real conclusion that can be drawn is that their sales are declining at around the same rate as their price increases.


There is a huge difference between revenue and profit. That's where the issue is.
   
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Sean_OBrien wrote:
Other than various inferences which have been stated in this thread...

How about something like this:

http://www.icv2.com/articles/news/23501.html

Warmachine has overtaken Warhammer Fantasy as the #2 best selling product line for non-collectible miniature games.

While you could probably find reasons to dismiss the various sources - it remains that GW is loosing volume and market share. If what I am hearing is correct, by early next spring - GW will actually loose its #1 seat as well (both a combination of more other games as well as the increasing popularity of certain other games). If you read through the various articles on ICV2 regarding GW (other than just the ones I linked) you will see a lot of ups and downs in the reporting...but more down than up.


It is fairly clear that GW is losing ground to other miniature companies. The icv2 article is interesting. I wonder where warmachine and hordes would rank if they were taken as a group, as they occupy the second and fourth spots? Unfortunately, icv2 does not have access to GWs own sales numbers, which may be substantial as GW runs stores.
   
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mattyrm wrote:
reds8n wrote:You will get to meet all the people who do the important things and talk to them about their
jobs. [b]You will also get, if such is your desire, a foaming pint of Bugman’s best in our famous bar.


I was last at WH world about two years ago, and all they sold was dog gak lager like Fosters and Carling, they didnt have a single real ale or stout on.

I thought it would be smart to get a local brewer to make them some ale and call it Bugmans best.. maybe they got around to it?

Anyone been lately?


I thought that that piss water lager that you nearly blew your brains out with was their bugmans beer?

Any way decent beer is better from the bottle rather than stewing in casks for months after the first camra has a snifter.

Cider for the memory loss god!

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notprop wrote:
mattyrm wrote:
reds8n wrote:You will get to meet all the people who do the important things and talk to them about their
jobs. [b]You will also get, if such is your desire, a foaming pint of Bugman’s best in our famous bar.


I was last at WH world about two years ago, and all they sold was dog gak lager like Fosters and Carling, they didnt have a single real ale or stout on.

I thought it would be smart to get a local brewer to make them some ale and call it Bugmans best.. maybe they got around to it?

Anyone been lately?


I thought that that piss water lager that you nearly blew your brains out with was their bugmans beer?

Any way decent beer is better from the bottle rather than stewing in casks for months after the first camra has a snifter.

Cider for the memory loss god!


Now we're on to a propper subject. Bugmans is rather nice, and comes in bottles as well as on draft. The problem with it is the price. True GW pricing

Personally I think draft is better, as long as you go somewhere with a half way decent turnover.

 insaniak wrote:
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Nah it was Kronenbourg mate, a quid a pint cos It was out of date, hence I drank as many as possible and then fell asleep.

I mean, don't get me wrong Ill happily drink lager, I just prefer bitter, stout, real ale or almost any description.

I don't actually think I dislike anything.. ciders alright as well, I think id even drink meths through a sock if I was a hobo.

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Louisiana

Hulksmash wrote:I can like a product without liking business practices. I'm just saying.....


Which means I don't buy the products. If you don't like the business practices, maybe you shouldn't justify them by continuing to purchase the company's products. There's a whole world of fantasy wargaming beyond Games Workshop and it isn't very difficult to find a satisfactory harbor.


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Sean_OBrien wrote:
Zweischneid wrote:Sales volume for GW went UP(!). Says so right there in the report. So no devaluation of their product on this account.


Yes, it also says that they sold 2 million pots of paint in two months time (about 1.5 million in a single month). That isn't actually a good indication of a healthy market. If half (or a third or a quarter...) of the units sold were made up by a one time event you can and should discount that as being relevant.


Sure it's a "one-time event" but companies tend to have "one-time events" every year. For example in GW's case in 2009 there was Space Hulk, 2010 there was Fantasy 8th edition etc. Next financial year will include release of 40k 6th edition, Hobbit miniatures line etc. Which again are "one-time events" in exact same sense that they can't do same every year. But they will probably do something else.

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Oh Weeble1000, you're adorable!

I'll spend my money how I choose as you do. GW isn't running sweat shops or pursuing illegal business practices. They've always provided excellent customer service on items I purchased from their retailers without issue. They are a luxury good I treat as a luxury good.

Sidenote: I'm not big on fantasy miniatures. If I was there are several outlets outside of GW modelwise I would probably pursue but I just can't get into fantasy games at this point, be it GW or others.

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Sean_OBrien wrote:
PP actually held number 2 and 3 a few times - http://www.icv2.com/articles/news/15716.html

WHFB has actually been as low as #5 more than once - http://www.icv2.com/articles/news/14724.html

While you could probably find reasons to dismiss the various sources - it remains that GW is loosing volume and market share. If what I am hearing is correct, by early next spring - GW will actually loose its #1 seat as well (both a combination of more other games as well as the increasing popularity of certain other games). If you read through the various articles on ICV2 regarding GW (other than just the ones I linked) you will see a lot of ups and downs in the reporting...but more down than up.


However, those charts seem to show that WHFB was down to 5th in 2008/2009, and back to 3rd in 2012. I'm not sure how that shows GW is "losing sales and market share"?

It is well known that WHFB has been in decline for some time. When I started the hobby in early 2009, most of my local/country scene was WHFB with some 40k and rest were whatever. Then 5th edition 40k began to kick in and loads of WHFB players switched to 40k and 8th edition WHFB did little to turn the tide. I am actually pretty sure that during 5th edition, 40k has been more popular than ever (by large margin).

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I don't think there were 2 million copies of Space Hulk or for that matter any other single product class sold.

The 2 million deals with the claim of an increased volume of sales...other things will have less impact on volume and minimal impact on the actual revenue. If you look at Space Hulk for example, it was a FY2010 item. Sold out in a week or so IIRC. Revenue from FY2009 to FY2010 went up by an astounding 800,000 pounds. That flash in the pan, wasn't even enough to singe arm hairs - granted it was likely enough to keep them from posting a drop in sales for the year (second half FY2010 had lower sales than second half FY2009).

LotR and the upcoming Hobbit isn't a one time event - it will likely be a bubble, just due to the market and history being a good indicator of things to come. New editions and new codices - new models to go with them are not one time events either. You do have surges - but it isn't anywhere comparable to what would happen if they were to completely cancel a line and replace it with a new line of products.
   
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I thought the prices in Bugman's bar were very good when I was there a bit over a year ago. The food and drink was priced equivalent to Wetherspoons and it was pretty tasty too.
   
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Interestingly, the change in marketing (namely closed lips until two weeks before launch) appears not have hurt them in the slightest. Can't say that it helped, either, but clearly these financials are of a healthy, mature (i.e. growth plateued) company.

No doubt these results bolster the corporate philosphy of eschewing tournaments, the internet, etc. Despite the rage, the sales are still pretty good.
   
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Louisiana

Hulksmash wrote:Oh Weeble1000, you're adorable!

I'll spend my money how I choose as you do. GW isn't running sweat shops or pursuing illegal business practices. They've always provided excellent customer service on items I purchased from their retailers without issue. They are a luxury good I treat as a luxury good.

Sidenote: I'm not big on fantasy miniatures. If I was there are several outlets outside of GW modelwise I would probably pursue but I just can't get into fantasy games at this point, be it GW or others.


That's unnecessarily belittling. If I don't like the way the company operates, I won't purchase the products, which is, like, the same thing that you are saying. It's almost as if both of our opinions about this are perfectly acceptable. The belittling is rather unproductive.

If one has a problem with a company, a perfectly legitimate reaction is to deny said company one's custom. Personally, I think Games Workshop's policies are incredibly detrimental, particularly with regard to its overblown and aggressive intellectual property litigation (and threat of litigation). If you don't feel the same, so be it. The point was simply that if you feel you have a legitimate concern, you should think about whether that concern trumps your desire for the product. In my case it does.

I will add that with regard to "pursuing illegal business practices," Games Workshop has done so in the past, and several of its current business practices border on, and may indeed firmly cross, the line if legality. I find that completely unacceptable, regardless of the quality of the company's customer service.

However, this line of discussion is rather off topic, so if you would like to continue it, I think a new thread would be the best way to proceed.

Kirasu: Have we fallen so far that we are excited that GW is giving us the opportunity to spend 58$ for JUST the rules? Surprised it's not "Dataslate: Assault Phase"

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Statesman wrote:Interestingly, the change in marketing (namely closed lips until two weeks before launch) appears not have hurt them in the slightest. Can't say that it helped, either, but clearly these financials are of a healthy, mature (i.e. growth plateued) company.

No doubt these results bolster the corporate philosphy of eschewing tournaments, the internet, etc. Despite the rage, the sales are still pretty good.


Actually it has. A couple articles on ICV2 are editorials by store owners regarding the practice. Several have stopped carrying GW products as a result - or greatly cut back on them.

One of the more recent ones was the paint line switch. Although there were rumors going about for a while before hand that something was up - there was no official notification sent to independent retailers till 2 weeks prior to the release. This forced them to have to react much more quickly than you would normally want to with that (what to do with old paint, do you try to stock pile old paint, should you carry new paint, should you switch to a different brand instead, which brand to switch to...) not to mention the capital outlay for those who did in fact decide to go with the program. Not to mention it coincided with another largish release from GW in the form of the Tomb Kings.

With every other company - retailers get heads up regarding new products well in advance (even if they don't get the exact day right - they know it is coming).

This message was edited 1 time. Last update was at 2012/08/01 18:30:17


 
   
Made in us
Mutating Changebringer





New Hampshire, USA

About the last part in the OP...

Does anyone care about a new Hobbit range?

They say it will be surprising.

Not to me. I hate the LotR line.

I'd rather see some plastic ork mega-nobz.

Khorne Daemons 4000+pts
 
   
Made in fi
Longtime Dakkanaut




Sean_OBrien wrote:I don't think there were 2 million copies of Space Hulk or for that matter any other single product class sold.


No, but in terms of revenue generated it was probably same class to paint change. Last time GW posted numbers which were better than what some expected, it was explained with Dark Eldar release. "OK, they released Dark Eldar, huge release with lots of new miniatures, it should be expected they sold a lot".

Mr Vetock, give back my Multi-tracker! 
   
Made in us
Longtime Dakkanaut






DeffDred wrote:About the last part in the OP...

Does anyone care about a new Hobbit range?

They say it will be surprising.

Not to me. I hate the LotR line.

I'd rather see some plastic ork mega-nobz.


Largely - no, that is why LotR was a bubble. There was significant interest in it while the movies were out - then it fell off sharply. The Hobbit will likely be the same. Those who are serious gamers who are interested in Tolkien miniatures have had several options for a very long time (think Mithril has had a general license for them since the late 1980s or early 1990s). You will likely have some people pick it up in passing because with the surge in movie goers who will come in, other games are often pushed aside to accommodate them (in the false hope of keeping them). All the noise should be over and done with though by late 2015 or 2016 though, and then things will go back to normal (and GW will likely drop the line around that time to avoid the licensing fees).


Automatically Appended Next Post:
Backfire wrote:
Sean_OBrien wrote:I don't think there were 2 million copies of Space Hulk or for that matter any other single product class sold.


No, but in terms of revenue generated it was probably same class to paint change. Last time GW posted numbers which were better than what some expected, it was explained with Dark Eldar release. "OK, they released Dark Eldar, huge release with lots of new miniatures, it should be expected they sold a lot".


What? Dark Eldar probably did bump sales - but FY2011 was a dog of a year. Lost revenue over FY2010 (which was also a dog of a year and lost revenue at constant currency over FY2009...which was a dog of a year).

Also, as I mentioned - the paint isn't related to revenue - rather sales volume. Revenue wise it would be likely 4 million pounds worth of sales (not astonishing...but significant). Revenue wise - Space Hulk would have needed to sell upwards of 60,000 copies at full retail to match that (which it might have - but that would have meant that that was a horrendously bad first half year).

This message was edited 2 times. Last update was at 2012/08/01 19:19:58


 
   
Made in de
Decrepit Dakkanaut







Some interesting quotes:
The Citadel Finecast resin range launched last year has seen both quality and efficiency improvements throughout the year and we expect further improvements as we continue to refine this new manufacturing process.

Good to see a perfect product getting better, with more improvements expected
At Games Workshop we have two performance related pay schemes, both of which have paid out this year. The first is the profit share scheme which is designed to share part of the profits generated in an exceptional year with the staff who made that performance possible.(...) In the current year, the volume growth we have delivered has ensured the core business performed ahead of expectations and the payout is £475 per member of staff.

Do you know any GW staff who received a £475 bonus? If not, who received that money?
Currently 98% of our Hobby centres have a trained manager and over half have a named successor ready to be deployed. We believe that this will help to ensure that our sales businesses are better able to respond to under-performance and deliver consistently high levels of customer service for our Hobbyists.

So half the GW stores have a named successor for their manager to increase motivation? Seems like they liked the Dark Eldar Codex and now use Pain markers to improve staff effectiveness Explains the aggressive sales strategies by the staff.

This message was edited 1 time. Last update was at 2012/08/01 19:56:40


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