GameStop Sees Record Earnings in 2005

For those who think gaming’s popularity is slowing down, forget it. It’s booming – at least according to last year’s earnings for video game retailer GameStop.

GameStop is reporting a record profit of $100.8 million for the fiscal year 2005 – $85 million of which was generated in the fourth quarter, which ended January 28. Strong holiday sales helped the video game retailer along with the October acquisition of Electronics Boutique. The retail giant earned 135% over their previous fourth quarter.

The growth is expected to continue. For fiscal year 2006, sales are projected to grow between 14% and 17%, highlighted by the anticipated launches of Sony’s PlayStation 3 and Nintendo’s Revolution in November.

Just in case you are worried there won’t be enough places to shop for your latest games and consoles, in 2006, GameStop plans to open 400 new stores, and ramp up to an estimated 600 stores in each of the next two years.
For those who think gaming’s popularity is slowing down, forget it. It’s booming – at least according to last year’s earnings for video game retailer GameStop.

GameStop is reporting a record profit of $100.8 million for the fiscal year 2005 – $85 million of which was generated in the fourth quarter, which ended January 28. Strong holiday sales helped the video game retailer along with the October acquisition of Electronics Boutique. The retail giant earned 135% over their previous fourth quarter.

The growth is expected to continue. For fiscal year 2006, sales are projected to grow between 14% and 17%, highlighted by the anticipated launches of Sony’s PlayStation 3 and Nintendo’s Revolution in November.

Just in case you are worried there won’t be enough places to shop for your latest games and consoles, in 2006, GameStop plans to open 400 new stores, and ramp up to an estimated 600 stores in each of the next two years.