GameStop Enjoys 5% Holiday Rise To Over $3 Billion
Well, GameStop certainly had a happy holiday.
The retailer has announced their numbers for the nine-week period that ended on December 31, and they saw a 5% year-over-year increase; $3.02 billion up from $2.86 billion.
New software sales spiked, rising 9.9% above the 2010 take. Hot titles like Call of Duty: Modern Warfare 3, The Elder Scrolls V: Skyrim, and Assassin's Creed: Revelations led the charge, although GameStop CEO Paul Raines dubbed software sales for the Wii as "weak." Used game sales were up, too, rising 3.5% and up 7% year-to-date.
On the downside, hardware sales fell 19.6%, although it probably isn't surprising due to no new hardware. And GameStop added that the price points still aren't low enough to "stimulate consumer demand" so in other words, most people who wanted a gaming console already had one heading into the holiday season. And by the way, the biggest growth for the period came in the retailer's digital sales department, which rose a whopping 60%. ...Call of Duty Elite subscriptions had a lot to do with that.
1/9/2012 11:26:04 AM Ben Dutka