GameStop Enjoys Best Holiday Sales - Ever
INDUSTRY NEWS posted on 9 JAN 2009 by Jim Zabek
Recession? What recession? GameStop has seen its best holiday season of sales ever.
GameStop Corp. (NYSE: GME), the world’s largest video game and entertainment software retailer, today reported record sales results for the nine-week holiday period, November 2, 2008 thru January 3, 2009.
During the 2008 holiday period, total sales were $2,856.0 million, a 22.3% increase from the prior year of $2,334.6 million. Comparable store sales for the period increased 10.2%.
New video game software sales were outstanding, growing 23.5% with many titles selling in record numbers. The top five video games sold during the holiday period were Activision’s Call of Duty: World at War and Guitar Hero World Tour, Microsoft’s Gears of War 2, Blizzard Entertainment’s World of Warcraft: Wrath of the Lich King, and Nintendo’s Wii Fit.
Hardware sales, led by Nintendo’s Wii and Microsoft’s Xbox 360, were also robust, dramatically increasing the installed base of new users that should drive software demand in 2009 and beyond.
Daniel DeMatteo, Chief Executive Officer, commented, “As expected, the consumer saw great entertainment value in video games in one of the most challenging holiday shopping seasons ever. In fact, in the midst of a serious recession, our average transaction was higher this year than last. In addition, our proprietary inventory management systems allowed us to maintain a great in-stock position during the busiest season we have ever experienced. A major highlight of the period was that GameStop’s sales grew in every worldwide territory in which we operate; a clear indication that the GameStop model works everywhere.”
J. Paul Raines, Chief Operating Officer, noted, “Our store associates did a tremendous job of making sure all of our holiday shoppers found the right systems, games, and accessories to fill their wish lists. Their hard work and knowledge of our wide assortment of game products was critical in serving a record number of GameStop customers. Of note this year, gift card sales during the nine-week period rose 15% over last year and the day after Christmas was the third highest sales volume day in GameStop’s history.”
Featured Site
Name of Site