Everything's coming up Gamestop in Q2 2014
Global sales, new hardware and software sales, mobile and consumer electronics sales and net earnings were all up year-over-year for GameStop in Q2 2014, according to the company's latest financial statement.
Global sales were up 25 percent to $1.73 billion. New hardware sales more than doubled, jumping from $148 million to $332 million in the quarter; GameStop attributed this increase to "very high" demand for Xbox One and PS4 systems. New software sales rose 16 percent from $430 million to $497 million, due to "the strong performance of recently-released new titles, such as Ubisoft's Watch Dogs and Nintendo's Mario Kart 8," GameStop said. Net earnings in Q2 2014 were up 134 percent from 2013, to $24.6 million.
GameStop's largest sales driver was "pre-owned and value video game products," composing 32 percent of total sales. GameStop recently revamped its trade-in process, establishing four tiers of price points that take into account whether customers want cash or store credit, and whether they are PowerUp Rewards Pro members.
[Image: GameStop]
