GameStop Reports Increased Earnings and Strong Used Game Sales

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GameStopRetailer GameStop released its financial results for the fourth quarter and fiscal year ended January 31, 2009.
For the quarter, the company reported net earnings of $232.325 million compared to $189.801 million in the same quarter the previous year. For the year, the company reported net earnings of $398.282 million compared to $288.291 million in the prior year.


GameStop anticipates that earnings will continue to grow, thanks to "increasing consumer enthusiasm for our trade-in model" among other factors.

Once again, while used video game products comprised 20.5% of sales in the fourth quarter and 23.0% of sales for the year, used products comprised 46.4% and 48.1% of gross profit for the quarter and the year, respectively. This again confirms the dramatic importance of used software and hardware to GameStop's business model.

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This page contains a single entry by Editor published on March 26, 2009 5:40 AM.

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