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ShopTo profits rocket 254%

Christopher Dring
ShopTo profits rocket 254%

Online indie ShopTo.net has seen its profit leap 254 per cent for the six months ending January 31st.

The company says it has ‘defied’ the slowdown seen in games by posting record results. Its market share in hardware also leapt during the period, with sales of consoles accounting for £8m of the retailer’s turnover.

ShopTo told MCV it has also seen ‘extremely’ strong pre-orders for Sony’s upcoming PlayStation Vita.

“Despite the recent news about video games retailers suffering in the current economic climate, we have been delighted with these recent trading figures and strong balance sheet,” said ShopTo CEO Igor Cipolletta.

“This is our fifth consecutive profitable year and an important milestone for ShopTo. We’re expanding at an impressive rate with new innovations to ensure that our customers receive the best value and service in entertainment retail.

“We are committed to increasing our market share on next generation consoles by offering the best value bundles. PS Vita pre-orders were phenomenal in January.”

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Tags: Vita , shopto , shopto.net

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Comments

2 comments

Congratulation Shopto! Shame the prices have risen over the last few months (254% doesn't come from nowhere :) ) but I've always found the service excellent.

Rod Smith

Rod Smith INDUSTRY
Feb 10th 2012 at 9:48AM

0 0

iv started shopping elsewhere, they have finally brought the vita price down to a more competitive level today but its still no where near as good a deal as amazon is doing so screw it.

Paul Arkz

Paul Arkz INDUSTRY
Feb 10th 2012 at 6:36PM

0 0