GameStop Reports Record 2008

GameStop Corp. (Grapevine, Texas) reported total sales for the fourth quarter increased 21.9 percent to $3.5 billion, in comparison to $2.9 billion in the prior year quarter. Comparable store sales increased 9.6 percent for the fourth quarter. For the fiscal year ended January 31, 2009, total sales increased 24.1 percent, while same-store sales rose 12.3 percent. 

“Looking at 2009, we are confident in our ability to increase sales and earnings, generate significant cash, advance market share, and maintain a financially sound balance sheet,” says ceo Daniel DeMatteo. “We have positioned GameStop to offer video game consumers worldwide the best values for gaming.” 

GameStop projects for 2009 that total sales will grow between 10 and 12 percent, with comparable store sales increasing 4 to 6 percent. 

In 2008, the video game and entertainment software retailer opened or acquired 1002 stores worldwide, including the acquisition of Micromania, the largest video game retailer in France. The company operates 6207 retail stores in 17 countries worldwide.