Today GameStop announced record sales for the 2008 holiday season, in spite of the incredibly challenging economic environment. From November 2, 2008 to January 3, 2009, consumers handed over almost $2.9 billion of their cash to the retailer, a 22.3 percent increase over the previous year.
Much of GameStop's business revolves around used games, but sales of new games grew 23.5 percent in the period. The retailer's top five best-selling holiday games were Call of Duty: World at War, Guitar Hero World Tour, Gears of War 2, World of Warcraft: Wrath of the Lich King, and Wii Fit.
Sales of the Wii and Xbox 360 were also strong. GameStop hopes the increased install base for these consoles will drive game sales in 2009.
"As expected, the consumer saw great entertainment value in videogames in one of the most challenging holiday shopping seasons ever," said Daniel DeMatteo, Chief Executive Officer. "In fact, in the midst of a serious recession, our average transaction was higher this year than last. In addition, our proprietary inventory management systems allowed us to maintain a great in-stock position during the busiest season we have ever experienced. A major highlight of the period was that GameStop's sales grew in every worldwide territory in which we operate; a clear indication that the GameStop model works everywhere."
"Of note this year, gift card sales during the nine-week period rose 15 percent over last year and the day after Christmas was the third highest sales volume day in GameStop's history," said J. Paul Raines, Chief Operating Officer.
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Much of GameStop's business revolves around used games, but sales of new games grew 23.5 percent in the period. The retailer's top five best-selling holiday games were Call of Duty: World at War, Guitar Hero World Tour, Gears of War 2, World of Warcraft: Wrath of the Lich King, and Wii Fit.
Sales of the Wii and Xbox 360 were also strong. GameStop hopes the increased install base for these consoles will drive game sales in 2009.
"As expected, the consumer saw great entertainment value in videogames in one of the most challenging holiday shopping seasons ever," said Daniel DeMatteo, Chief Executive Officer. "In fact, in the midst of a serious recession, our average transaction was higher this year than last. In addition, our proprietary inventory management systems allowed us to maintain a great in-stock position during the busiest season we have ever experienced. A major highlight of the period was that GameStop's sales grew in every worldwide territory in which we operate; a clear indication that the GameStop model works everywhere."
"Of note this year, gift card sales during the nine-week period rose 15 percent over last year and the day after Christmas was the third highest sales volume day in GameStop's history," said J. Paul Raines, Chief Operating Officer.
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