GameStop Holiday Sales Fall 4.6 Percent

January 8, 2013 -

Video game retailer GameStop revealed that sales for the last nine weeks of 2012 came in at $2.88 billion, a 4.6 percent decrease from the 2011 holiday shopping season. The retailer blamed a lack of in-store traffic as the primary cause. Second-hand sales were also down 15.6 percent because of limited inventory, according to GameStop. New game sales were also down by 5.1 percent, while hardware numbers were down 2.7 percent.

GameStop categorized the launch of the Wii U as "successful," and continued to see growth in its online and mobile businesses. Digital sales were also up more than 40 percent for the holiday period, with e-commerce sales up 20.5 percent, and mobile sales coming in at $76.5 million.

Looking ahead, GameStop said that it expects to hit the low end of its per share guidance range of $2.07 - $2.27. The company also lowered expectations from previous guidance of between -7 percent and +1 percent to -4 percent for its fiscal fourth quarter.

Source: GII


Comments

Re: GameStop Holiday Sales Fall 4.6 Percent

If digital sales keep going the way they are going then year Gamestop is somewhat doomed. However Gamestop does have a saving grace. Fact is digital goods for the 360 and PS3 are like Steam you can carry them around with you and use them whenever and delete and reinstall. 

Talk from Sony that the next PS will most likely not allow you to use your same digital purchases without buying the game again at a reduced price. Since the Vita had the same talk at launch if Sony and MS do not allow you to take your digital games to the next system people will go back and shop at Gamestop.

I'd even invest in Gamestop cause once Sony and MS announce you won't be able to use your digital goods I'll be ready to ride that wave. 

 
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