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GameStop Holiday 2017 Sales Increased By 10.6% Compared to 2016

US retailer GameStop has reported an increase in global sales during the nine-week holiday period ended December 30, 2017. Worldwide sales stood at $2.77 billion, which is a 10.6 percent increase from the same period in 2016.

New hardware sales increased by 38.3 percent, which was attributed to a strong Nintendo Switch demand and the release of Microsoft’s Xbox One X. On the software side, Call of Duty: WWII and Nintendo Switch titles contributed to a rise of 7.3 percent. Sales of video game accessories also grew by 33.7 percent – again, thanks to Nintendo Switch.

Pre-owned sales were down by 8.1 percent, however. According to GameStop, this is due to customers wanting to purchase newly released titles and collectible products.

Speaking of collectibles, apparel and toys pulled in $211.3 million, which is an increase of 19.4 percent compared to the previous holiday period.

“We are pleased with our sales performance during the important holiday period, driven by strength in the Nintendo Switch and Xbox One X, and a solid increase in our collectibles business,” said interim CEO Dan DeMatteo. “Our results demonstrate our customers’ enthusiastic response to new products and our ability to execute on strategically targeted promotions.”

As a result of the positive performance, GameStop has increased its guidance for the full year of 2017 from $3.10 per share to $3.40 per share.

[Source: GameStop]