PS2 News: November Sales Not Stellar - PS2 News

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November Sales Not Stellar

According to data from the NPD Group, overall game sales were up 7% in November, but several analysts cited in a Reuters report had different thoughts about what it meant for the crucial holiday season.

The clear winners in November were Activision, up 46 percent, and Electronic Arts, up 29 percent with six of the top-20 games by revenue. However, U.S. Bancorp Piper Jaffray analyst Tony Gikas was not impressed, saying the 7% sales growth was well below his 12.5% forecast. "Although specific companies outperformed during the month ... overall, industry sales continue to fall materially short of healthy levels," said Gikas.

On the other hand, Harris Nesbitt Gerard analyst Edward Williams believes holiday sales are healthy. "With the November data, we have begun to gain clarity on the winners and losers for the holiday season and earlier caterwauling on the weakness of the holiday season is, in our view, unfounded," Williams said.

12/17/2003 Aaron Thomas

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