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Gamestop Takes $7.1 Billion In 2007

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What recession? Gamestop has reported its financial reports for the full year of 2007, in which its sales rose by one third to a record-making $7.1 billion. Profit from those sales nearly doubled from $158 million in 2006 to $288 million in 2007. Add to that the 586 new stores that Gamestop opened and these numbers make Gamestop the fastest growing retailer in the Fortune 500.

What products drove the sales? Call of Duty 4, Rock Band, Assassin’s Creed, Guitar Hero III and Super Mario Galaxy were the top five selling games in the fourth quarter – no surprises there. But hardware sales were thick as thieves this year, with competition from all consoles and handhelds conspiring to change the face of the games market: more gamers buying more hardware in larger numbers and with more persistence than ever before.

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Gamestop’s also projecting a further swelling of sales of 19-21% for 2008, an enormously confident estimate that’s only slightly tempered by notions of limited growth or, indeed, the performance of the rest of the country’s economy. With hardware sales poised to continue their competition en gallop for the foreseeable future, those kind of results seem not unimaginable.

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GameStop Reveals Record $7 Billion In 2007 Sales [Gamasutra]

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