GameStop Revenues Rise

Officials from GameStop, the US’s largest chain of video game stores, have announced the company’s results for the fiscal year ended January 31. During this period the company recorded sales of around $1.58 billion, up 17% on the previous year. At the same time sales at stores open at least year or same-store sales, rose 0.8%. In the all-important fourth quarter, total sales rose 20% to $625.4 million, with same-store sales increasing by 3.9% at the same time. The company opened 300 new stores in the fiscal year and expects to open another 300 to 330 stores this year. It expects total revenues for this year to increase 18% to 20%, with corresponding same-store sales increases of 4% to 6%. Source: Associated Press