GameStop Reports Record Holiday Sales, But Still Disappoints

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GameStopGamestop reported its sales results for the nine-week holiday period ended January 1, 2011. While the sales were, technically record highs, they fell short of expectations for the company. Read on for more details...
For the nine-weeks ended January 1, 2011, GameStop reported sales of $3.02 billion, an increase of 5.4% compared to the 2009 holiday season (with comparable store sales up 3.4%).

GameStop noted that new hardware sales were up 7.4% thanks to Kinect sales and new game sales were up 3.3%. GameStop said that used hardware and software sales only increased 1.7%, and that's the number many analysts are focusing on. Analysts had hoped to see greater growth in used-game sales, since that's the engine of GameStop's profitability.

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This page contains a single entry by Editor published on January 6, 2011 8:41 AM.

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