Games Workshop rode big increases through independent retailers to continued strong growth in North America (although at a slower rate) for its fiscal year ended May 31, with a 13.4% increase over sales in its previous fiscal year. That compares to a 15% growth rate in the 2024/2025 fiscal year (see “GW Projects Tariff Hit”).
Sales to independent retailers in North America were up 18% to $240.3 million (converted from pounds sterling at today’s rate) from $203.3 million in the previous fiscal year. While a robust growth rate, the second half of the fiscal year (December-May 2026) must have slowed down a lot to bring the growth rate down to 18% from the blistering 24% growth rate in the first half of their year (June-November, see “GW Finding Growth in Independent Retailers”). Online sales to North America were up around 8% and sales through Games Workshop stores (212 stores by May 31, up from 201 a year ago) around 3% to bring the overall growth rate in North America to 13.4% for the year.
Worldwide, Games Workshop sales were up 7% for the year, to $900.3 million from $833.6 million in the previous fiscal year, with independent retailers driving the growth with an 18% sales increase for the channel.
Games Workshop remains extremely profitable; both its sales and profits set a record in the most recent year. Profit after tax was $278.1 million, up around 5% from the $264.7 million profit a year ago. The strong year led the company to issue employees Group Profit Share payments of $6750 per employee.
Source: ICv2
