GameStop does slightly better than guidance heading into holiday
GameStop made it out of the slower summer season relatively unscathed, with sales of $1.38 billion during the second quarter ending August 3, a 10.7 percent decline from last year's $1.55 billion. An important indicator for the retail giant is its digital receipts grew 17.9 percent during the quarter to $158 million.
"Through two quarters, the year has played out as expected," said GameStop CEO Paul Raines in prepared remarks. "During this console transition period, our financial results have been supported by the continued growth of our emerging businesses."
The company is confident about the holiday season, which will see the launch of two consoles and all those sweet new software sales (and all those used sales from people unloading current-gen libraries to fund their transition).
Raines concluded, "Of course, excitement continues to build for the upcoming new games and the launch of the PS4 and Xbox One. As the global gaming leader, GameStop is uniquely positioned to capitalize on the new, innovative products coming to market."
