More Nintendo Switch Units Were Sold At GameStop Than Any Other Retailer
Switch and collectibles lead the way.
Nintendo Switch remains sold out virtually everywhere, and no one has sold more than GameStop. The retailer today reported its earnings for the quarter that ended on July 29, 2017, and it was a period that saw the company receive a notable boost from sales of Nintendo's latest console.
GameStop had "leaking market share" for Nintendo Switch during the period, beating out competitors like Amazon and Walmart. As a result, new hardware sales were up 14.8% year-over-year, which is notable given declining prices of the PS4 and Xbox One. It also stands out when compared with the performance of software: new sales were down 3.4% and pre-owned were down 7.5%, with "lagging Xbox One sales" called out specifically as the reason.
In addition to Switch, collectibles also helped to drive the company's results for the quarter. Collectible sales increased 36.1% to $122.5 million thanks to Pokemon and Marvel merchandise. Digital sales were up 28.1% to $46.5 million, while total global sales for the company overall were $1.69 billion, an increase of 3.4%.
Looking ahead, GameStop expects to see growth during the second half of its fiscal year thanks to Switch, Xbox One X, and a "solid slate of AAA titles." It also expects to benefit from the launch of new mobile phones, including the upcoming iPhone.
During a post-earnings conference call, GameStop said it believes the Switch will continue to rapidly sell out for at least the remainder of 2017.
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