GameStop's Sales Way Up
And while many retailers have been faulting falling foot traffic at malls for their weak results, GameStop recorded a 17.4% gain in same-store sales for the quarter and a 24.7% gain for the year.
The company, which expects to open up to 600 new stores this year, says it expects same-store sales increases of 10% to 12% in the year ahead--even in a softer economy.
"The value aspect of GameStop's user model appeals to a broad base of budget-conscious consumers," it says. And in the first quarter, with such big new releases as "Super Smash Bros. Brawl" for Wii and "Grand Theft Auto IV" due for release, it expects same-store sales to gain 24% to 25%.