GameStop 4th Quarter Sales Drop, Wii U Sells 320,000 Units at Retailer - News

by William D'Angelo , posted on 08 January 2013 / 4,995 Views

Gamestop has announced that its 4th quarter sales, which ended December 29, 2012, have dropped for the first time since it merged with Electronics Boutique in 2005. Revenue for the quarter were $2.88 billion, a decrease of 4.6 percent when compared to the holiday period 2011.

"GameStop experienced mixed results during the holiday selling period. Our successful Wii U launch, strong digital growth and continued momentum in the mobile space were countered by a decline in store traffic," said Paul Raines, chief executive officer.

"As a result, GameStop expects its fourth quarter 2012 earnings per share results to be at the low end of its current guidance range," Raines continued. "Our strong market share positions us well for the future, and we look forward to new product launches in 2013."

New hardware sales decreased 2.7 percent, despite the launch of the Wii U, which sold 320,000 units worldwide at the retailer. New video game software dropped 5.1 percent. The biggest decline was from the sale of used games. Used game sales dropped 15.6 percent.

The lone bright spot for the company comes from digital receipt sales, which saw a 40 percent increase in sales. Its mobile business brought in $76.5 million in sales during the holiday period and more than $160 million for the entire year.

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Barozi (on 08 January 2013)

"GameStop reports that it's currently sitting on 1.2 million preorders for Wii U games on top of the 500,000 consoles it was allocated (all of which were almost immediately reserved when they went up for preorder back in September)." I know they cancelled the waiting list, because it was getting too long, but many must have stopped wanting to get one or bought it elsewhere.

Barozi (on 08 January 2013)

Eh sry for the weird link. Should still work if you copy and paste it.

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Bajablo (on 09 January 2013)

Prob. alot of people anticipating a WiiU craze and wanted to cash-in on it. when they saw it wasn't happening they backed out.

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Mnementh (on 08 January 2013)

320K? they sold more than 10% of all WiiU? Holy crap, Gamestop is important. Do they even sell in Japan?

Euphoria14 (on 08 January 2013)

I thought they had 500,000 WiiU preorders alone.

JokerCompany (on 10 January 2013)

isn't sony releasing a pattent to block used games? if so, gamestop is in trouble. KARMA IS A BIATCH GAME STOP! 60 BUCKS TO TRADE IN VITA!

Yakuzaice (on 08 January 2013)

This is 9 weeks ending Dec 29th, not their 4th quarter results.