After reporting its first non-record holiday quarter in January, GameStop is back to posting chart-shattering financial results, breaking $2 billion in sales for the first quarter of 2010.
With new software sales up 13% and earnings per share growth of 14% over the previous year, GameStop and GameStop stockholders alike should be pleased with the retailer's first quarter 2010 performance. Sales for the quarter, which ended on May 1, were up 5.1% over the previous year at $2.08 billion, the first time in company history that sales broke $2 billion in a non-holiday quarter.
The company attributes the high numbers to a strong slate of new games, with top sellers including Battlefield Bad Company 2, God of War III, Final Fantasy XIII , Pokèmon SoulSilver and HeartGold, and Bioshock 2.
GameStop looks to continue the upward momentum as well, with new initiatives launching at stores across the country over the next few months.
"The in-store Legends of Zork test proved highly successful in economically acquiring and converting our customers to browser game players. Additionally, at the end of this month, GameStop will be marketing and selling downloadable content in a group of test stores. Of equal importance, our new customer loyalty program will launch in select markets. Altogether, we continue to deliver a superior shopping experience and are introducing our customers to the digital options for gaming."
And there's the secret to GameStop's success: "...economically acquiring and converting our customers."
Now if they could just get a handle on all of those leaks.