Thanks in part to the huge success of titles like Grand Theft Auto IV and Super Smash Bros. Brawl, GameStop reported a net earnings increase of 151% for the first quarter of 2008 according to sales figures released by the company.
Total sales increased to $1,813.6 million in the first quarter, up from $1,279 in the same timeframe last year. Alongside GTA IV and Brawl, Mario Kart Wii, Rainbow Six: Vegas 2, and Army of Two rounded out the top five selling games of the quarter.
“We are very bullish on the future as three major metrics are transforming the business and accelerating the potential for GameStop growth,” said GameStop Chairman and CEO R. Richard Fontaine. “The installed base of video game consoles grew 34% in 2007, or nearly 31 million units, the highest incremental growth in the history of the business, and we are forecasting that hardware unit sell-thru will match these levels in 2008.”
“And behind the huge hardware growth is the fact that the demographic for videogaming is expanding dramatically as industry figures indicate that 38% of game players are female. Finally, we have an outstanding line-up of new games coming during the rest of the year, including Nintendo’s WII FIT, Konami’s METAL GEAR SOLID 4, Microsoft’s GEARS OF WAR 2, and Activision’s GUITAR HERO 4.
“GameStop’s trade model continues to provide our customers with a way to lower the cost of videogaming while offering the largest selection of gaming products of any retailer in any market. We continue to attract and serve a broader consumer base as videogaming continues to attract the core gamers and is moving towards becoming mainstream family entertainment.”
Tags: 2008, gamestop, GTA IV, m-rated games, nintendo, rainbow six, sales, smash bros. brawl, xbox 360
