GameStop's Used Game Revenues Show Slowest Overall Growth
Although GameStop recently announced a record revenue of $3 billion for 2010, the notorious retail chain's bread and butter, used games sales, were only up a mere 1.7 percent, accounting for just over $600 million. New software sales were up by 3.3 percent to $1.43 billion, specifically citing Call of Duty: Black Ops, Assassin's Creed: Brotherhood, and World of Warcraft: Cataclysm as primary contributors.
The stunted growth is likely attributed to a number of factors, not the least of which is that GameStop is a poorly-run, greedy business with obsolete, annoying, and outright immoral practices. Developers and digital download services such as Steam are all taking steps to remove GameStop from the picture.
GameStop's investors were expecting more from the company, and as of today, shares were down more than 5 percent to $20.79. The problem with GameStop being so successful in the past is that it will take longer for them to fall, but they will fall. As a matter of fact, I don't know a single person who prefers GameStop over Amazon anymore. Obviously people still shop at GameStop, but why?