Retailer GameStop had a strong holiday period as sales increase 1.8 percent to $2.99 billion for the nine week period ending January 2nd.
Total comparable store sales grew 4.9 percent in the US and 3.2 percent internationally. Global multichannel sales shot up a massive 47.4 percent, driven by the success of ThinkGeek.
"We are pleased with our holiday sales performance," said GameStop CEO Paul Raines. "Our positive comps were fueled by strong sales of new video game consoles and collectibles. Growth in our diversification efforts, Tech Brands and collectibles, more than offset a decline in new software sales in terms of revenues and gross margin dollars."
Sales of new hardware increased 4.5 percent. PlayStation 4 and Xbox One sales increased 38 percent year-over-year. New software sales declined 9.7 percent, mainly due to the lower sales of Nintendo games.
Source:
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