Due to the lack of game releases and slow console sales, GameStop has seen a sales drop of 3.1 percent for the second quarter to $1.74 billion from $1.8 billion. Net earnings have also dropped from $40.3 million to $30.9 million, effectively dropping the store chain’s shares by more than 5 percent.
Despite these losses, pre-owned sales have shot up 12 percent and digital sales have climbed to an astounding 69 percent. This has given the company a 31.2 percent gross margin, the highest GameStop has reached in five years.
The absolutely incredible rise in digital sales combined with the increase for the whole 2010 fiscal year may prove that the gaming retail giant has set itself up for a very bright future.
