GameStop sales up 21.9% in Q2

Global games retailer GameStop has reported a like-for-like sales increase of 21.9 per cent for the quarter ending August 2nd.

Total global sales for the period were up 25.1 per cent at $1.73bn while net earnings grew 134.3 per cent to$24.6m.

New hardware sales were up 124.8 per cent thanks to demand for PS4 and Xbox One, with new software sales growing 15.6 per cent – Watch Dogs and Mario Kart 8 were singled out for particular praise.

Pre-owned increased 5.5 per cent for the second successive quarter while mobile and electronics sales grew 85.1 per cent thanks to GameStop’s new Spring Mobile and Simply Mac stores. In fact, tech accounted for 19 per cent of the retailer’s total profits.

The second quarter demonstrates the power of the new console cycle and all of our business units, including Technology Brands, positively contributing to the company’s sales and profits,” CFO Rob Lloyd said.

The back half of the year is filled with exciting games and products coming to market and I am confident that we are prepared to capitalize on these opportunities.”