NEWS
by Joe Morgan
Gamestop Reports Greatest Sales Year Ever
Video game retail giant Gamestop has announced their earnings and sales for the fiscal 2010 year, and they're nothing to scoff at. In fact, they may need to buy a bigger vault.
According to their earnings report, Gamestop had a smashing year. They had a total sales increase of 4.3%, which took them to a record breaking $9.47 billion, compared to the $9.08 billion of the previous year. Their net earnings also increased 8.1% to $408 million.
Aware of the direction digital distribution is going, Gamestop announced that their digital sales increased 61%, and they will be putting $100 million into their "digital initiatives, technology systems and loyalty program support."
In the report, Gamestop also lauded the success of their PowerUp Rewards program, which they state helped drive their record sales.
Could they break the $10 billion mark this upcoming year?
via Joystiq