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Article: GameStop, EB Games report strong sales growth.(Videogames)
- Article from:
- Video Business
- Article date:
- March 28, 2005
- Author:
CopyrightCOPYRIGHT 2005 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Annual revenue grew 17% for the fiscal year ended Jan. 29 at videogames retailer GameStop, to $1.84 billion.
News of that topline surge circulated last week, a week after rival chain EB Games reported a 24% sales boost to almost $1.99 billion.
For the fiscal fourth quarter, total sales increased 13% to $708.7 million at GameStop and 21% to $809 million at EB Games. The retailers control upward of one-third of the U.S. market between them.
As for the annual bottom line, GameStop posted annual net income totaling $60.9 million, down 4% from the previous fiscal year. EB Games reported $52.3 million in 12-month profit, a 14% surge.
GameStop ...