GameStop reports like-for-like Xmas gains

Global games retail giant GameStop has reported a 3.4 per cent like-for-like sales boost for the nine weeks ending January 1st.

Overall the retailer saw 5.4 per cent growth compared to Christmas 2009. Revenues for the period hit $3.02bn.

Hardware sales were up 7.4 per cent year-on-year with Microsoft’s Xbox 360 Kinect. Interestingly, a difference in GameStop’s internal classification sees PlayStation Move dropping into the ‘Other’ category, along with PC games. As a result, accessories were up 15.9 per cent, thanks both to Move and the success of World of Warcraft: Cataclysm.

Sales of new games grew 3.3 per cent thanks to Xbox 360 and PS3 titles, with Call of Duty: Black Ops and Assassin’s Creed: Brotherhood given particular merit.

Pre-owned game sales grew 1.7 per cent, though in the US market this growth hit 8.5 per cent.

Sales of gift cards were up an astonishing 32 per cent.

"GameStop exceeded its holiday sales plan based on the strength in Kinect hardware and new software sales driven by core titles," CEO Paul Raines added. "Additionally, our PowerUp Rewards loyalty program, already six million members strong, gave consumers more reasons than ever to shop GameStop across multiple channels."

GameStop president Tony Bartel: "Over the holiday, GameStop reaped the benefits of its investment in e-commerce. GameStop.com sales rose more than 100 per cent versus last year, far outpacing online industry growth during the period, remaining the fastest growing website in the video game space."

The chain predicts sales for the entire quarter to be up by between two and four per cent, with like-for-like sales from flat to two per cent.