Gamestop continues to post record financial numbers

Posted May 22nd 2008 1:00PM by John Callaham
Filed under: Biz

What economic downturn? Oil may be $135 a barrel and food prices are going sky high but people still love to pay for games. Want proof? Take a look at the newest financial numbers from game retailer Gamestop. The company just announced that its first quarter 2008 profits (ended May 3, 2008) were $62.1 million compared to just $24.7 million for the same period a year ago. Revenues were $1.8 billion for the quarter compared to just $1.27 billion for the same period a year ago.

Gamestop CEO R. Richard Fontaine stated that their company is "very bullish" on the future. It's already opened 210 new stores in the last quarter and plans to open as many as 600 new stores in 2008, with over half of them opening outside the US. Gamestop is now saying its full year guidence will see growth between 28 and 33 percent.

Tags: gamestop

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