GameStop Reports Another Profitable Third Quarter

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GameStopRetailer GameStop announced the financial results for its fiscal third quarter ended October 29, 2011. As usual, GameStop's results were propelled by high-margin used video game products. Read on for more details...
For its fiscal third quarter ended October 29, 2011, GameStop announced consolidated net income of $53.7 million, compared to consolidated net income of $54.3 million in the same period the prior year. Comparable store sales were only down 0.6%, indicating that GameStop isn't performing particularly worse than last year. Management chose to focus on the idea that GameStop is "outperforming the market."

GameStop reported that the top selling games of the quarter were Gears of War 3, Battlefield 3, Madden NFL 12, Batman: Arkham City and Dead Island. As in past quarters, the bulk of GameStop's profitability came from used product sales. While used video game products only accounted for 28.0% of sales, they provided 46.0% of gross profit.

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This page contains a single entry by Editor published on November 17, 2011 8:25 AM.

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