Same-store sales at US retailer GameStop dropped 12.5 per cent year-on-year.
These include sales at stores which have been open for at least one year, and exclude revenue generated at newer shops.
The games chain blamed the decline on a lower demand for new games, but said it had outperformed the market during the quarter. NPD data showed that US overall retail game sales in April were down 32 per cent year-on-year.
The company is outperforming the market in new video game product sales,” read a GameStop statement. However, first quarter same store sales results reflect light demand for triple-A game launches and slower than expected store traffic during the quarter.
"GameStop will provide second quarter and full year sales guidance in conjunction with its first quarter earnings release and conference call on Thursday, May 17th, 2012.”
The games retail chain also pre-announced its Q1 2012 first quarter earnings at $0.54 per share.
It was a pretty tough quarter for the industry in general but I think relative to that Gamestop actually did a really good job," Sterne Agee analyst Arvind Bhatia told Reuters.