Friday, May 21, 2010

GameStop Revenues Rise, Same Store Sales Decrease

Grapevine, Texas-based video game retailer GameStop reported its results Thursday, saying it had a record first quarter with sales up 5.1 percent to $2.08 billion, up from the $1.98 billion the company had in Q1 of last year. However, the firm said that it saw a drop of 1.6 percent in comparable store sales, due to declining hardware prices and hardware supply constraints. GameStop's quarter was driven by new video game software sales, which it says were up 13.3 percent due to the launch of titles such as Sony's God of War III, Battlefield Bad Company 2, Final Fantasy XIII, Pokemon SoulSilver, HeartGold, and Bioshock 2.