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March 19, 2010

GameStop predicts growth for gaming

Posted: 10:35 AM ET

In a time when financial news about the gaming industry has been largely doom and gloom, the world’s largest video game retailer says 2009 was a very good year and 2010 is going to be better.

GameStop announced that sales for fiscal year 2009 increased 3.1 percent to more than $9 billion. They also plan to open 400 new stores in the upcoming year in an effort to capitalize on gamers who want to buy, sell, or trade their software and hardware.

GameStop is expecting 5 to 10 percent growth in the “used products” market.

The company is also predicting a decrease in profits from new hardware sales - somewhere from 5 to 15 percent - due to reduced prices compared to last year and in spite of the launches of Project Natal and PlayStation Move motion-sensitive controllers.

The report also showed that comparable store sales decreased nearly 8 percent, possibly indicating that more people are getting their merchandise online through the GameStop.com website.

The company currently operates 6,450 stores worldwide in 17 countries.

Do you get more of your software and hardware online? Do you only go into a “brick-and-mortar” store when you want to trade your older games? Let us know in the comments.

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Filed under: Games • Gaming


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Jamion   March 19th, 2010 11:18 am ET

Star Wars: The Old Republic just released a batch of article from GDC this year. If you want to see the direction MMO Gaming is going check them out. http://www.swtor.com/news/news-article/20100319_001

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Avrailer   March 19th, 2010 3:45 pm ET

gaming...

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Reuben Gathright ~ Computer Analyst   March 19th, 2010 4:39 pm ET

GameStop.com has poor customer service.

To find out what they are really like: http://www.epinions.com/content_504763616900

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Alfonso   March 19th, 2010 10:52 pm ET

Why would anyone want to trade in their games? Just post them on craig's list. Sell the game ten dollars cheaper than they sell it. Cut out the middle man. Gamestop fails to see that gamers are eventually going to realize what a rip off it is when you trade in games.

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//3 $71|_|_ 9()7 9@//3 « Pen > Sword   March 20th, 2010 10:43 am ET

[...] recently noted, as you can see here in this CNN article, that they expect the gaming industry is only going to continue to grow. That's an impressive [...]

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//3 $7||_|_ 9()7 9@//3 « Pen > Sword   March 20th, 2010 11:06 am ET

[...] recently noted, as you can see here in this CNN article, that they expect the gaming industry is only going to continue to grow. That's an impressive [...]

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gamEr   March 23rd, 2010 8:52 am ET

GameStop is the BEST place to get games. i used to work part time in the back and to stock the shelves. it was cool

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David   March 23rd, 2010 5:48 pm ET

I usually go to GameStop to buy my games, but for selling I do it through Craigslist.com. GameStop does not give you as much money for your used game as a single consumer does.

GameStop: Good to buy but not to trade-in or sell.

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