GameStop has reported a decline in net earnings and sales for the second quarter ended August 1, 2009.

Net earnings were $38.7 million (£23.5m). While that figure is down 32.3 per cent year-on-year, it still represents the second highest summer quarter in the company’s history.

Sales came in at $1.74 billion (£1.05b), a 3.7 per cent decrease compared to the second quarter of last year. Comparable store sales fell 14.1 per cent “due to lower new console unit sales, a lack of strong new software titles compared to last year’s record releases and customer caution due to the continued weak economy,” the company said.

The top five selling games during the quarter were THQ’s UFC 2009 Undisputed, Activision’s Prototype, EA’s Fight Night Round 4 and NCAA Football 2010, and Atari’s Ghostbusters.

“Due to the effects of the recession and strong prior year comparisons, the videogame industry experienced a sharp decline in consumer spending during the quarter,” said GameStop CEO Daniel DeMatteo. “Looking ahead, as the new title release schedule improves, we expect positive earnings growth in the back half of the year.”

Despite delays to a number of high profile title such as BioShock 2, StarCraft II and Splinter Cell: Conviction, GameStop expects new software sales to be greater in the second half of 2009 than they were last year, led by the likes of Call Of Duty: Modern Warfare 2, Assassin’s Creed 2 and Halo 3: ODST.