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GameStop: 2012 Was “Challenging,” But We Remain Strong

Last year was "challenging" but the future holds promise, according to mega video game retailer GameStop.

The company reported its fourth quarter and full-year 2012 financial results , noting that the last year was a difficult one for the industry.

GameStop CEO Paul Raines said they "focused on factors within our control" and "expanded our market leadership position" while at the same time controlling spending. He also added that it was critical for the corporation to invest further in the mobile and digital businesses for the sake of future success. As for the fourth quarter numbers, overall sales hit $3.56 billion, slightly down from the $3.58 billion from the previous year. Overall store sales fell 4.6%, but digital sales surged 60.3% and mobile sales earned $100 million. Adjusted net earnings rose 9.5% to $262.3 million.

For the total fiscal 2012 results, GameStop reported worldwide sales of $8.89 billion, which is down 7% from the $9.55 billion from 2011. Comparable store sales fell 8%. Adjusted net earnings came in at $403 million, which is also a bit down from the $405.1 million earned the previous year. But looking down the road, GameStop is expecting the arrival of the new consoles and Grand Theft Auto V to boost the market. Said Raines:

"As we look towards the start of the new console cycle, our industry market model indicates a return to growth with the launch of new game systems. GameStop is strong, healthy and ready to lead the industry and its customers into the next phase of gaming."

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11 years ago

I don't know why, but reading this has made me slightly annoyed. Anyway, getting back to Infinite now.

11 years ago

hehe. I know what you mean. It almost sounds like whining. They still made a profit despite the things that weren't under their control. Game sales and console sales have been trending downwards for awhile now indicating there is some consumer fatigue with this generation's hardware.

It's been an unusually long console cycle so it's only natural some fatigue is setting in. New hardware like the PS4 and next Xbox will jumpstart growth again.

11 years ago

its not fatigue with current hardware, people are just sick of playing the same god dam games!
even infinite, how brilliant it is, makes me want to go back and play the original!
everything these days just feels like it lacks a little something that makes it special.
so many things that made the original bioshock great, that they have removed from infinite.

11 years ago

oh you poor babies how do you manage!?
the mistress is steamed she had to trade the rolls in for a merc s class is she?
poor baby!
go work with my ex boss who has not paid his own son in over 3 months now!
f*cking bastard, i can understand treating others like that thats just how cold he is.
but your own son!?

Last edited by ___________ on 3/29/2013 3:57:57 AM

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