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.!