GameWorks Minneapolis Plans to Continue Operations at Block E: Sub-Lease Offer Part of Plan to Manage Overhead and Maintain Profit Margins
GameWorks confirmed that it will continue its operations in the Block E area of downtown Minneapolis. The company is looking at several alternatives for cutting costs and ensuring that it meets its financial goals, one of which is sub-leasing some of the space GameWorks currently occupies in the Block E complex.
Minneapolis, MN (PRWEB) April 23, 2009 -- GameWorks confirmed that it will continue its operations in the Block E area of downtown Minneapolis. In today's challenging retail environment, the company is looking at several alternatives for cutting costs and ensuring that it meets its financial goals. One of those possibilities is sub-leasing some of the 34,000 square feet of space GameWorks currently occupies in the Block E complex.
According to Pat Hart, Executive Vice President for GameWorks, "Retailers throughout the U.S. are facing declines in foot traffic and consumer spending, and GameWorks is no exception. A reliable retail industry analysis group is predicting a 13% drop in foot traffic through the second quarter of 2009, along with a 2.4% drop in retail sales, compared with the same period last year. Given this ongoing challenge, we must be responsible and look at every possible alternative for managing our costs and ensuring that we continue to operate profitably. Sub-leasing is one of the options we are exploring. However, we have no plans to close our store in Minneapolis."
Mr. Hart continues, "GameWorks has enjoyed many years of success in the vibrant, historic Block E area, and we continue to attract consumers seeking great entertainment, food and drinks. If you're attending a concert or sporting event at the Target Center, GameWorks is a great place to stop before or after the event. I would like to personally invite anyone looking for a uniquely fun, affordable experience to come downtown and visit GameWorks at 7th and Hennepin. Minneapolis is a great location for GameWorks."
Visit GameWorks.com/Minneapolis to view information about GameWorks Minneapolis and upcoming events at this location.
About GameWorks
Owned and operated by Sega Entertainment U.S.A, Inc. (SEUI), GameWorks (www.gameworks.com) is a unique casual dining and entertainment concept featuring state-of-the-art video games and simulators, along with traditional favorites like pinball and pool, in 15 locations throughout the U.S. SEUI is a division of Sega Sammy Holdings, Inc. (SGAMF), a Japan-based holding company whose Amusement Facility segment is engaged in the development, operation, rental and maintenance of amusement facilities.
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