GameStop Net Rises 53%
by Kezins
The Bloomberg Network reported that GameStop Corp’s 4th quarter profit rose 53%. This is an amazing figure considering we are talking about profit, not just sales. The jump was much higher than any industry experts or stock investors had anticipated. The stock is going up and they are showing why they are the largest game retailer in the world. I’m not really a fan of GameStop personally, but this is just the news I came across.
[Via Bloomberg]
GameStop, Net Rises 53%, profit soars, video games
Did You Enjoy this Post? Subscribe to 1P Start. It's Free!
March 28th, 2007 at 4:04 am
I blame the industry as a whole just growing. You have a crapload of systems out there (xbox/gamecube/ps2), and now you have 3 new brand new systems rising rising and rising some more. This is not taking into account all the handheld items. As long as Gamestop deals in not only reselling old items along with new, they don’t have to worry about having something for everybody.
The bastards. I do not support them…..except for when I had to buy Tetris on 360 last week, they were the only store in Orlando f’n Florida that had it in stock, no Best Buy, no Wal Mart, no Toys R Us.. I am too impatient to wait for it on Amazon, so I was forced to go in there
March 28th, 2007 at 5:21 am
I like Gamestop… except for one of the stores in my area. The guys there are jackasses… but in general Gamestop tends to hire people who actually know their shit instead of Target who hires teenages under 18 who thought McDonald’s was too embarassing. It also seems to be the only major chain left that lets you pre-order any games instead of only the major titles… atleast in my area =(.
March 28th, 2007 at 12:18 pm
Good, maybe they’ll raise the trade-in values. Fable will be “Pre-owned” on the shelf for 30 dollars… how much to trade one in? $1.50.
@PacoDG:
Orlando represent.
March 28th, 2007 at 12:55 pm
I am not surprised. The gaming industry is really starting to pick up.
March 28th, 2007 at 10:16 pm
I knew I should have invested in Gamestop!!!! They are a decent company. Its a shame they lowball so bad on used games.
March 29th, 2007 at 2:17 am
I’m surprised that’s all it went up considering they bought EBGames, it should have practically doubled.
March 29th, 2007 at 3:16 am
They also have a store called “Moviestop” which is actually pretty friggin sweet.
March 29th, 2007 at 3:46 pm
All my money went into Enron, damn!