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GameStop: New Game Sales Up 15 Per Cent In November

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By Tom Ivan

December 11, 2009

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GameStop has reported that new software sales were up 15 per cent across its stores in November.

The positive results bucked the US industry trend last month, when software sales declined by 3.1 per cent year-on-year.

“While some indicators say that new software sales are declining, we are excited to be able to roll out robust offers and incentives to help maximize shoppers’ budgets,” said Tony Bartel, the retailer’s executive VP of merchandising and marketing. “In November of 2009, we bucked the trend and have continued to gain market share. In fact, our US stores saw a 15 per cent rise in new software sales.”

Lazard Capital Markets analyst Colin Sebastian commented on the news: “We note that GameStop continues to gain market share despite overall weak industry trends. We also believe that the company is benefiting from the ongoing disparity in sales between top selling games (e.g., Modern Warfare 2) and second-tier and catalog games, given GameStop’s customer demographic of core gamers.”

Last month GameStop reported an 8.2 per cent jump in sales and an 11.8 per cent  rise in earning for its third fiscal quarter.