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GameStop holiday sales drop despite software surge

1/14/2015

Grapevine, Texas - GameStop Corp. reported declining total and same-store sales for the nine-week holiday 2014 period, despite solid growth in new software sales. Total global sales for the holiday period were $2.94 billion, a 6.7% decline compared to the 2013 holiday sales period.



GameStop cited foreign currency exchange rates as negatively impacting global sales. Total same-store sales decreased 3.1%, comprised of -3.3% in the U.S. and -2.7% internationally. By month, November’s same-store store sales declined 12%, while December’s same-store sales increased 4.4%.



In one bright spot, new software sales rose 5.8%, driven by a 94.4% increase in PS4 and Xbox One software.



“During the holiday period, consumer demand for video games was strong, resulting in new software sales growth,” said Paul Raines, CEO. “We expect that trend to continue into the first quarter. Overall, each of our business units performed well giving us positive momentum as we look toward 2015.”


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