GameStop Q1 Sales Up 120%19 May, 2006 By: Erik Gruenwedel
Strong sellthrough of Xbox 360 software and hardware, coupled with the acquisition of Electronics Boutique, helped GameStop Corp. post first-quarter (ended April 29) profit of $11.7 million, compared to $10.3 million during the same period last year.
The Grapevine, Texas-based No. 1 video game retailer reported revenue of $1.04 billion, up nearly 120% from $474.7 million last year. Same-store sales decreased 3.3% beating previously announced guidance decline from 7% to 9%.