financial & news & video games MAZ on 19 Mar 2008 05:53 am
GameStop surpassed $7 billion in sales last year
GameStop’s massive video games store chain managed to hit a nice number of $7.09 billion in sales. The company saw a 33% increase in sales over last year and the company’s net earnings blasted off with an 82% increase to $288.3 million. They also saw a 50% increase in operating earnings and continued its expansion with 586 new stores in the last fiscal year.
R. Richard Fontaine, CEO of GameStop said: “Our performance in 2007 was impressive from many perspectives. But what is particularly noteworthy is that 2007 was a transformative year with hardware sales setting records and the installed base of users reaching an all-time high. Likewise, the expanding demographic profile of the video game player has moved this business into the mainstream of entertainment. This will be compounded by a strong 2008 video game title lineup and the value aspect of GameStop’s used model that appeals to a broad base of budget conscious consumers.”
GameStop also added that the top five selling games last quarter were: Call of Duty 4: Modern Warfare, Rock Band, Assassin’s Creed, Super Mario Galaxy and Guitar Hero III.
Via Joystiq
