Gamestop quarterly sales rise to $1.7 billion, profit down to $47

By Patrick Garratt
20 November 2008 20:45 GMT

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GameStop’s announced a sales increase of 5.2% to $1.695 billion in the quarter ending November 1.

Comparable store sales were down 1.8 percent during the third quarter, due primarily to the difficult comparison to last year’s launch of Halo 3 – the largest in GameStop’s history, which drove comparable store sales up 43 percent in 2007.

Overall, the company, which has 6,066 retail stores in 17 countries worldwide, saw $46.7 million in profits, a decrease over the $52.0 million seen in the same period in 2007 – due in part to foreign currency fluctuations and merger-related expenses.

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