GameStop plans 550 new stores

Leading games retailer GameStop is planning a global assault on games retail with between 500-550 stores due to open across the globe before the end of the year.

In the last 12 months the chain has opened 421 new stores, 145 of which were outside of the US. Whilst the retailer already has a strong presence in Ireland, it’s yet to make a significant impact on the UK market. But a swoop for one of the UK’s major games chains could see it near its target expansion numbers.

Meanwhile, GamneStop’s net earnings in Q4 reached $129.8 million, up from $85 million in the same period the year before. Sales climbed by 38.2 per cent to $2,304 million. Full year net earnings hit $158.3 million, up from $100.8 million the year before.

Sales for fiscal year 2006 topped $5,318.9 billion, an increase of 72 per cent over the 2005 figure. Sales increased by 11.9 per cent on a store-by-store basis.

“2006 was a remarkable year for GameStop,” chairman and CEO R. Richard Fontaine stated. “Total sales increased 72 per cent, operating earnings grew by 73 per cent and net earnings were up 57 per cent – by any retail measurement, a remarkable year.

“The video game business has become more complex with more console choices, more sophisticated software and a huge variety of enhancement accessories. The business is increasingly favouring the game passion and deep expertise of our 22,000 managers and game advisors whose product knowledge differentiates GameStop from the competition and will give us an even greater edge in the marketplace in the future.”

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Tags: Retail , gamestop

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