Specialty retailer reports modest year-over-year growth; Modern Warfare 3, Skyrim, AC: Revelations drive software; digital sales up 60 percent, fueled by Call of Duty: Elite.
The 2011 holiday shopping season was prosperous for GameStop, as the specialty retailer today announced a year-over-year sales increase of over 5 percent during the nine-week holiday period ended December 31. Sales for the special period were $3.02 billion, up from $2.86 billion during the same window last year.
New software sales surged 9.9 percent ahead of last year's tally, led by sell-through figures of high-profile Xbox 360 and PlayStation 3 new releases like Call of Duty: Modern Warfare 3, Elder Scrolls V: Skyrim, and Assassin's Creed: Revelations. GameStop CEO Paul Raines called Wii software sales "weak," and a factor that offset sales of high-definition console software.
Used game sales during the holiday 2011 period also grew, up 3.5 percent over last year's figure, and up 7 percent year-to-date.
Hardware sales dropped 19.6 percent for the period, a dip that GameStop says is a result of "no new console products or low enough price points to stimulate consumer demand."
GameStop's largest holiday growth sector was its digital sales department, which grew 60 percent year-over-year. The retailer said this growth was led by sales of Call of Duty: Elite subscriptions, which run $50 for a 12-month period.
In 2011, GameStop began selling tablets and accepting iOS device trade-ins. And during the holiday 2011 period, the retailer said trades of mobile devices equaled 4 percent of total company trade volume.
Looking ahead, GameStop reiterated its previously stated fourth quarter and full-year earnings per share guidance figures of $1.66 to $1.76 and $2.82 to $2.92, respectively.
the only question i have is do they still allow employees to open new games, play them, and then repackage them and sell them as "new"?
GameStop may have made more money you know if they gave deals in the middle of the most Important holiday. and to bring Nintendo into your own problem is pathetic blaming another company for their own idiocy this is why I shop and future shop.
They make all that money cuz they give you 2 dollars on a game you just spent $60 on then they turn around and sell it for $55 or $45, or $35 ... depending on the game, either way YOU LOSE if you keep going to gamestop/spot you are part of the problem.
added note, gamestop pulled to much stuff and since they did the deus ex stunt i try not to shop there, plus places like amazon or even steam give you deals, i found that supersaver shipping thost cose me nothing, would have cost me 15 bucks international to canada, i think someday they will fade away but not for a long time, after all when it comes to retail the only compition is bestbuy.
amazon ships faster, gamestop gives more swag, in the end we all feed the beast to get to our angels :)
I stopped buying at Gamestop due to horrible customer service about 6 months ago and you know what...game on!
Haven't bought a game there in years. The customer service is normally awful and the prices are pathetic.
Why then is the cost of second hand game sales being passed on to the consumer with online passes and such when these game stores are making so much money? Shouldn't the studios be asking for money from these shops instead of blaming us gamers? We don't have gamestop here in Oz but we still pay for their profit taking......
Everyone complains and complains about gamestop, but look where everyone takes their business? I try and sell a bunch of used games via craigslist and people REFUSE to pay even the same amount that gamestop wants for them "because it doesn't come with a warranty". Clearly they've never read their gamestop receipts.... seriously folks, either take your business elsewhere or STFU and keep going to gamestop.
@PC-RUL3S I have been saying that for years but its far easier for all the sheep to just believe what ever big publishers say.
In 10yrs they'll be recording record losses when digital downloads become mainstream. Their days are numbered.
The only thing I go to Gamestop is to buy the games brand stinking new and I never ever trade my games or Sell them. They are my to keep Gamestop.
There are only two things that I don't like about Gamestop. 1: The money you get for selling games is ABSOLUTELY not fair. Good thing I never sell my games 2: They don't sell old games for the SNES, NES, N64, Dreamcast, PS1, Genisis, and the list goes on and on.
My only advice to Gamestop, if you are going to have online deals, make sure those deals are also at retail. There were some good deals before the year ended and I went to a retail store and they did not have those deals
@ddelella I'm sorry but America is hurting financially because they buy things they dont have the money to buy, loans and more loans, credit issues, student loans ... because they spend the money on crap and on luxuries they cant afford, games would be the case, its a luxury.
Agreed ddelella, I haven't used Gamestop in about three years, every other retailer seems to give $10-$20 gift card for purchasing new games while Gamestop still to this day almost never gives the consumer any sort of discount for shopping at their store. Why would they when so many still give them their money? I think the last time I used Gamestop my local store was still allowing you to stack promotions, so I was getting absurd trade-in value, the day that stopped I never returned.
If GameStop sold this much it explains a portion of why America is hurting financially. At no point during the holiday sales did GameStop ever offer the best deals. This means most Americans are overpaying for things for no other reason than convenience (probably). Word of advice. Compare prices between Amazon, Best Buy, CraigsList and eBay (sort by ending soonest to see the actual final bids). For Amazon don't be shy about buying used games that are in very good or like new condition. If you still think GameStop has the best deal after that go ahead. People will now claim trade in options, sell it yourself on Amazon...you'll make way more money than GameStop will give you.
What gets me is that the publishers are always bit***** about piracy on the PC but don't you think that the amount they are losing from people just renting console games and buying second hand games and even pirated versions is far greater? I think they just focus on the PC because it's an independent platform and Microsoft and Sony are not going to start sending them nasty letters about that. On the PC we don't have rentals or second hand games so I can understand why some people might download games just try them out since demos are very rare on the PC platform; demos seem to be mandatory on the consoles. I believe that a lot of people that download games from torrent sites do so to use it as a demo and then go on to buy the product sure there are people that don't but I don't believe it's on the scale they some publishers make it out to be. Like Ubisoft they have released some rubbish games and it seems to me that they just blame the PC platform for a game not selling well.
I hate Gamestop. I especially hate their hipster, cool guy voice-over dude. "Mleh mleh mleh mleh, power to the players." In what way is Gamestop enriching the lives of any gamer?
@EPaul And i'll raise a glass to it going extinct during ELITE too :D Where's your cash-crop now? lol
Shame it doesnt accurately show how little crybabies on the opposition dashboard EVERY F%^@IN match! I traded in every COD game recently because thats all COD is these days. Oh and dont forget the asewhipes who play Team Deathmatch on Domination and Demolition, thats a personal favourite as well.
That was a really fun commercial, although it has almost nothing to do with the article... and I still won't be buying a COD title.
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