GameStop Reports Record Holiday Sales6 Jan, 2011 By: Erik Gruenwedel
GameStop Corp., the nation’s largest retailer of new and used video games, Jan. 6 reported record sales of more than $3 billion for the nine-week winter holiday period ended Jan. 1.
The tally, which included a 32% increase in gift card sales during December, represented a 5.4% increase from revenue of $2.86 billion during the same period a year ago. More importantly, same-store sales (open at least 12 months) increased 3.2%.
Sales of new hardware improved 7.4%, primarily due to Microsoft’s successful launch of Kinect. Video game software sales increased 3.3%, driven by Sony PlayStation 3 and Microsoft Xbox 360 titles, including Activision’s Call of Duty: Black Ops and Ubisoft’s Assassin’s Creed: Brotherhood.
Sales of video game accessories and PC games grew 15.9%, led by sales of Sony PlayStation Move and Blizzard Entertainment’s World of Warcraft: Cataclysm.
Total used products gained 1.7% during the period; however, the domestic segment increased 8.5% in December, and post-holiday sales are significantly outperforming expectations, according to GameStop.
Online sales mirrored retail sites nationwide with exponentially higher revenue during the holidays.
“GameStop.com sales rose more than 100% versus a year ago, far outpacing online industry growth during the period, remaining the fastest growing website in the video game space,” said president Paul Bartel, in a statement.