GameStop Reports Strong Earnings

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Game Retailer GameStop reported its financial results concerning its fiscal year and fourth quarter ended February 2.
GameStop reported net earnings of $189.801 million for its fourth quarter, compared to $129.803 million for the same quarter the prior year. For the full year, GameStop reported net earnings of $288.291 million compared to net earnings of $158.250 million in the same period the previous year. GameStop expects a very strong coming year and plans to open 575-600 new stores in 2008.

As in past periods, GameStop continues to make the bulk of its profits from the sale of used video game products. While over the course of the fiscal year, used video game products only accounted for 22.4% of GameStop's sales, used products were 48.7% of the company's gross profit for the year. So once again, it's easy to understand why GameStop pushes used games so hard. Arguably, used video game products weren't as important a part of GameStop's business this year, given the importance of new consoles to the company's sales.

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This page contains a single entry by Editor published on March 18, 2008 5:49 AM.

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