Have you been to a GameStop lately ? It seems many have as the company has reportedly been busy last year, with revenue of $9.3bn.
The company is also reporting that its console sales was also up 17% from the year before that is equivalent to $2.03bn in sales, the company had predicted a 14% increase but with the release of next gen consoles such as the PS4 and Xbox One it gave the company more sales. The company was also facing difficulties due to certain games and consoles making it impossible to re sell or buy used games, but so far it seems it hasn’t really hurt GameStop’s bottom line.
On the bad side the company saw an 11% drop in new game sales and software, also the company saw its digital sales revenue drop 1%, meaning gamers still love to shop at actual stores.
“In our core video game business, we achieved our highest market share in history with 28 percent share of next-generation hardware, 46 percent share of next-generation software and an estimated 42 percent share of downloadable content,” GameStop CEO Paul Raines said.
“Meanwhile, our Technology Brands segment exceeded expectations, contributing 5 percent to our operating income and to our highest-ever annual gross margin of 29.9 percent, as we rapidly expanded the footprint of our AT&T wireless and Apple retail businesses.”