GameStop Financials Show Growth in Digital Sector But Decline in Total Sales
According to GameStop’s financial results for Q2 2013, the retailer has suffered a 10.7 percent decline in sales, ending up with $1.38 billion compared to $1.55 billion the last year.
“Through two quarters, the year has played out as expected,” CEO Paul Raines said in a prepared statement. “During this console transition period, our financial results have been supported by the continued growth of our emerging businesses.”
During this period sales for new software and hardware both went down by 9.3 percent and 19.4 percent respectively. Mobile sales though grew by 121.4 percent and ended with $55.1 million. Digital sales saw to a rise as well with 17.9 percent and ended with $158 million.
“Of course, excitement continues to build for the upcoming new games and the launch of the PS4 and Xbox One,” Raines added. As the global gaming leader, GameStop is uniquely positioned to capitalize on the new, innovative products coming to market.”
Both the PlayStation 4 and Xbox One are scheduled for launch later this year. During Gamescom 2013 Sony revealed that pre-orders for their console have crossed the 1 million mark. With a couple of months remaining before launch, those numbers are only going to go higher. This Christmas is going to be a most profitable one for retailers and publishers alike.