GameStop sales fall, but mobile sales explode
Grapevine, Texas – While overall sales for GameStop fell significantly during first quarter 2013, the video game retailer can take some solace in a substantial boom in mobile sales. Total sales of $1.87 billion were about 7% below $2 billion in sales recorded during the first quarter of last year. However, mobile sales grew an impressive 290% to $46.8 million and digital receipts increased 47%. Net earnings of $54.6 million were 25% below net earnings of $72.5 million a year earlier.
“GameStop’s continuing margin expansion, growing new businesses and market share gains are the results of executing our strategic plan” said CEO Paul Raines. “We look forward to capitalizing on the upcoming new console cycle.”