Gamasutra is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
June 24, 2019
arrowPress Releases
If you enjoy reading this site, you might also want to check out these UBM Tech sites:

GameStop CEO laments 'disappointing' holiday period as sales tumble

GameStop CEO laments 'disappointing' holiday period as sales tumble

January 13, 2017 | By Chris Kerr

GameStop has posted its sales results for the nine-week holiday period ending December 31, 2016, and they don't make for particularly good reading. 

Overall, total global sales for the holiday period fell by 16.4 percent year-over-year to $2.5 billion. 

That was partly down to a 30.3 percent drop off in new hardware sales, with a "greater-than-expected" decline in PS4 and Xbox One sales hurting the retail giant. Software sales were also down by 22.8 percent thanks to "lower average selling prices and decreased store traffic."

Pre-owned sales for the holidays actually outpaced new software sales, but still fell by 7.9 percent year-over-year.

GameStop CEO Paul Raines admitted the results were "disappointing," and reiterated the company's commitment to transforming its business by building out its non-gaming operations. 

"During the holiday period, sales in the video game segment were impacted by industry weakness, promotional pricing pressure and lower in-store traffic, amidst a difficult holiday season for many retailers," said Raines. 

"We are disappointed with our overall results, but looking broadly, we did see continued growth in our non-physical gaming businesses and we expect this category to approach 40 percent of our earnings in fiscal 2016."

Related Jobs

Gear Inc.
Gear Inc. — Hanoi, Vietnam

Technical Director
Legends of Learning
Legends of Learning — Washington, DC, District of Columbia, United States

Senior Unity Engineer - $140k - Remote OK — Chicago, Illinois, United States

Server Engineer — Bellevue , Washington, United States

UI Engineer

Loading Comments

loader image