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Posted by: Matt Vella on March 18
GameStop’s (GME) decade-long comeback continues. The games franchise, which bills itself as the world’s largest entertainment software retailer, today announced record earnings for 2007. The company, which analysts thought would be doomed by the emergence of online games retailers, saw sales and net earnings grow 33% and 82% respectively.
GameStop is surging as the games industry continues to expand. (Comparable same store sales were up 24.7% for the year.) The company’s management says it is the world’s fastest growing retailer in the Fortune 500, measured by its boost in sales, a 50% increase in its operating earnings, and the opening of 586 news stores. The projected growth in software sales this year is only likely to ameliorate the outlook.
No longer child's play, the booming global games market is worth billions of dollars. In Games, Inc., BusinessWeek Innovation writer Matt Vella and Tokyo correspondent Kenji Hall analyze emerging business trends in video games and interactive entertainment. They’ll examine everything from button-mashing, chart-topping, console games to serious games commissioned by big corporations to train staff. They’ll also map the evolution of expansive virtual worlds and go behind the strategies at companies that are turning play into big business.