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Retail

Digital sales up 59% at GameStop

Thu 17 Nov 2011 1:56pm GMT / 8:56am EST / 5:56am PST
RetailFinance

Sales of $1.95bn for Q3, profit down slightly to $53.9m

US retailer GameStop recorded sales of $1.95 billion for the third quarter ended October 29, up 2.5 per cent from $1.9 billion.

Profits were down slightly from $54.7 million to $53.9 million, with the company blaming lower sales of new software for a drop in comparable stores sales of -0.6 per cent.

Digital sales were the real driver for the company, up 59 per cent, with console digital sales growing 63 per cent and PC digital up 51 per cent.

Pre-owned sales were up 3.1 per cent, and new releases up 4.8 per cent thanks to the performance of Battlefield 3, Madden NFL 12, Batman: Arkham City and Dead Island.

"In the third quarter, GameStop outperformed the market and continued to execute against the long-term strategic plan through additional investments in digital and emerging businesses," offered Paul Raines, CEO.

"We expect that our innovative digital, iDevice and gaming tablet businesses will supplement our leading retail business this holiday."

The retailer indicated it had seen a "strong sell-through" of November releases.

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