GameStop: Sales Decline, Infinite Warfare Underperforms, Pokémon Sun/Moon Best Performing Games in 2016
GameStop’s earning reports for the quarter ended on October 29th, and the results are now in the wild. Here are some of the salient takeaways, including Call of Duty: Infinite Warfare’s underperformance and Pokémon Sun/Moon stellar performance.
- The store reported total global sales of $1.96 billion, a decrease of 2.8 percent compared to the same period last year,.
- As we already knew — but now reconfirmed – games released in the “last few weeks of October” underperformed, with new software sales dropping by 8.6 percent.
- Pre-owned game sales fell 6.4 percent.
- New hardware sales dropped by 20.6 percent.
- GameStop digital business saw revenue rise 13.2 percent to $258.9 million. The retailer cited DLC, digital currency, and mobile game sales as the key reasons for the increase.
- GameStop’s Technology Brands division saw sales rise 54.4 percent to $216.3 million.
- The Collectibles unit posted $109.4 million in revenue — which is an increase in 37.3 percent.
- Overall, GameStop’s profit was $50.8 million for the quarter, which is down from the $55.9 million it posted during the same time last year.
- Looking ahead to the next quarter (the holiday one), Gamestop said it expects store sales to be down, ranging from -12 percent to -7 percent.
According to GameStop Pokémon Sun/Moon are the best-performing games all year for the retailer, with preorders for the games being the highest for any game in the last five years.
On the other hand, the retailer revealed this years Call of Duty — Infinite Warfare — underperformed., though specifics were not divulged.