GameStop Registers Fiscal Revenue Records For 2010
Although digital distribution gets bigger with every passing day, the brick-and-mortar GameStop stores continue to thrive.
The world's leading video game retailer has revealed record revenues for both the fourth quarter and full-year earnings. For the last three months of the fiscal year, GameStop posted sales of $3.69 billion, which is up 4.8% in a year-over-year comparison. Profits were up, too, as the net earnings for the holiday period hit $237.8 million, marking a 10% 4Q year-over-year increase. For the full year, the retailer recorded its biggest campaign to date: total sales reached $9.47 billion, a 4.3% increase over the $9.08 billion posted in 2009. And speaking of digital content, GameStop was able to get a piece of that market, selling $290 million worth of DLC. That's up 61% from 2009 and lastly, in terms of annual net earnings, the company registered their highest-ever total: $408 million. Expectations for fiscal 2011 are even higher and they expect to open 200 new stores in the US as well. How is the industry faring? Well, not too bad from this standpoint.
It'll be interesting to see how GameStop moves forward with the digital content boom. They seem to be adapting just fine so far.
3/24/2011 12:17:03 PM Ben Dutka