GameStop Has Record Q1, New Game Sales Drop, Used Sales Blow Up
Game retailer GameStop just had its best first quarter ever! Hooray! Sure, new game sales may have been on the decline, but used game sales helped the company rack up $US1.98 billion in sales.
That’s in the face of a 2.8% drop in new game sales and a quarter that didn’t include releases of “tremendous success” on par with Grand Theft Auto IV and Super Smash Bros. Brawl, both released during the same period last year. GameStop points to Resident Evil 5 and Street Fighter IV as quarter saving software. It also thanks strong sales of the Nintendo DSi as partially responsible for the 9.2% increase in sales.
Despite the drop in new game sales, they still accounted for $US770.5 million worth of GameStop’s earnings, compared to $US548.5 in “used video game products.” That boost in used game sales, GameStop CEO Don Dematteo says, illustrates “that value is becoming more important to our customers.”
During the quarter, GameStop managed to find 114 new locations to open stores. Someday, we’ll have one in every home in the U.S.!
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Comments (AU Comments | US Comments)
There are 27 Gamestops within 25 miles of where I live.
TWENTY SEVEN.
I mean hey good on them for becoming uber successful, but that kind of success can't stay constant forever. Especially considering how this industry will change in the coming years w/ digital distribution, used games eventually taking over all of their small store space as it is, etc.
Oh yeah and Gamestop is the devil, used games are a rip-off, they open up the new games and sell them, etc etc.
Matt0505
Do they cash unemployment checks? Recession reshmession.
Hey_Blinkon
hey the game sold once, who's to if its right or wrong for them to resell games that they buy off of people. you dont HAVE to trade games in, but most people will.
odnet