Latest in Gaming

Image credit:

Gamestop sees 'all-time high' sales of $9.47B for fiscal 2010

Share
Tweet
Share

Sponsored Links

GameStop is gonna need a bigger moneybin, as the company reported "all-time high" sales of $9.47 billion for the 2010 fiscal year (ending January 29, 2011), with a record net profit of $408 million. During the fourth quarter, the company also saw a 4.8 percent increase in sales to $3.69 billion, with a 10 percent increase in net earnings to $237.8 million.

During the GameStop investors call, executives stated they would use information on customer purchases extracted from from the PowerUp Rewards program to help determine the 200 locations that will be shut down over the next year due to overlap. It's not all bad news: that same information will be used to open 200 stores "focusing on underserviced markets." GameStop also plans to "pursue opportunistic growth internationally."

The biggest sign that GameStop is doing its best to prepare for the inevitable was the 61 percent increase in "console and PC digital offerings," which brought in $290 million during the year.





All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share

Popular on Engadget

Elon Musk warns that Tesla's 'Battery Day' tech is two years away

Elon Musk warns that Tesla's 'Battery Day' tech is two years away

View
Microsoft’s Bethesda deal: Great for Game Pass, troubling for exclusives

Microsoft’s Bethesda deal: Great for Game Pass, troubling for exclusives

View
Royole's FlexPai 2 5G foldable phone costs under $1,500

Royole's FlexPai 2 5G foldable phone costs under $1,500

View
NASA's Mars 2020 rover passes its driving test

NASA's Mars 2020 rover passes its driving test

View
Microsoft keeps the same price for its new wireless Xbox controllers

Microsoft keeps the same price for its new wireless Xbox controllers

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr