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GameStop quarterly report notes 29.7% increase in new hardware sales

Thursday, 27th March 2014 13:38 GMT By Stephany Nunneley

GameStop has reported a 7.8% sales increase for the quarter ending February 1 to $3.68 billion compared to $3.56 billion year-over-year.

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Earnings were down to $261.1 million compared to last year to $261.1 millions yoy.

Full year sales were up 3.8% to $9.04 billion compared to 2013 global sales of $8.89 billion.

New hardware sales increased 29.7% due to the release of PlayStation 4 and Xbox One. New games were down 2.8% as were pre-owned sales by 4.1%.

Digital sales for the full year were up 15.1% to $724.4 million, while mobile and consumer electronics sales were up 51.6% yoy.

GameStop will cut its global store count by 2% in 2014.

Thanks, MCV.

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