GameStop is a very popular American video game and entertainment software retailer, with 6,700 retail stores in operation throughout the U.S., Canada and other parts of the world. However, it appears as though GameStop digital sales are high, while overall profits are low.
The fiscal first-quarter earnings, of Game Stop Corp., fell 9.8%, causing the video game retailer to suffer a double-digit drop in same-store sales among a weak supply of new games, as mentioned in The Wall Street Journal. These new games are meant to draw customers into its stores and so this light offering of new games is partly to blame.
Although the company did not disclose a specific figure for digital sales, it was noted that this was up 23 percent, while mobile accumulated $12 million for the period. Nonetheless, according to GameSpot.com, GameStop revealed that rises in its digital and mobile divisions were not enough to offset decreasing total revenue and profit.
GameStop's chief executive, Paul Raines, made a statement in The Wall Street Journal saying, "With new consoles, we have an opportunity to bring billions of dollars into the market as current generation console owners trade up. That should help juice sales of games and other items."
