GameStop Reports $3 Billion in Holiday Sales, Pulls Plug on Puerto Rico Stores
Collectibles coupled with hardware sales helped propel high-street retailer GameStop to a $2.99 billion haul over the holiday period ending January 2.
Software sales were a different story, however, with company CEO Paul Raines noting that “fewer Nintendo titles available compared to last year and declines in prior gen software sales” are to blame for the overall slump of 9.7 percent. Marketing pushes from Microsoft and Sony helped boost current-gen system sales by 4.5 percent over the same period last year, while software sales on the new systems also rose 38 percent year-over-year, thus explaining the drop off in “prior gen software sales.”
Threatening to put a dampener on GameStop’s relative high note was news that the company plans to shutter all of its branches in Puerto Rico. News comes by way of GameSpot, who confirmed that the retailer will close all 35 stores on the island by March 31 due to “increased governmental restraints.”
“Given the ongoing business challenges and increased governmental restraints we have experienced in Puerto Rico, GameStop has made the business decision to close all of its video game stores and operations located on the island. As a result, GameStop will be exiting the Puerto Rican market by the end of March 2016. Until that time, we will continue to conduct normal business operations.”
Our thoughts go out to those affected by the imminent closures.