GameStop Reports Record Holiday Sales
by Alan Wolf -- TWICE, 1/11/2008
Grapevine, Texas — GameStop, the world’s largest video game specialty chain, reported a record holiday period, with net sales rising 34.7 percent to $2.3 billion and comp-store sales growing 20 percent for the nine weeks ended Jan. 5.
CEO R. Richard Fontaine said software sales grew 45 percent, aided by a three-fold increase in the installed base for the Xbox 360, PlayStation 3 and Nintendo Wii platforms.
The chain’s five top-selling video game titles during the holiday period were Activision’s Guitar Hero III and Call of Duty 4, Assassin’s Creed by Ubisoft, Electronic Art’s Rock Band and Nintendo’s Super Mario Galaxy.
Fontaine said he was also “particularly pleased” with record holiday sell-outs of the Nintendo DS and Sony PSP handhelds, and that despite shortages in Wii hardware, sales of new consoles for all three advanced platforms were very strong.
“Video gaming is redefining itself and attracting more players than ever as demonstrated by the growing number of Wii parties and Guitar Hero fests held not only at home, but also on college campuses, cruise ships and any place people are having fun,” the CEO said.
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