GameStop Holiday Sales Exceed $1.7 bln

The Texas-based chain racked up the sales during the nine-week period ended December 30.

In a statement, GameStop chairman and CEO R. Richard Fontaine said, "Without question this holiday season was one of the most successful ever for GameStop."

He added that he is "particularly pleased with the robust sales of hardware systems, even in the face of ongoing shortages of PlayStation 3 and Wii."

The PS3 and Wii launched November 17 and 19 respectively and Microsoft supplied a steady stream of Xbox 360 stock during the holidays. Sales of the Nintendo DS were particularly outstanding in November selling 918,000 units, according to NPD Group's most recent US sales figures.

According to Fontaine, the company also sold a record amount of gift cards with a higher average value per gift card.

On the software front, the top-selling titles were Microsoft's Gears of War, Square Enix's Final Fantasy XII, Nintendo's The Legend of Zelda: Twilight Princess, RedOctane's Guitar Hero II and THQ's WWE Smackdown vs. Raw 2007.

The period's sales figures represent a 29 percent increase from the same period a year prior, which saw sales exceeding $1.3 billion. Comparable store sales were up 24 percent.

In effect, the retailer is raising its guidance for Q4 2006 to range from 22 to 23 percent, with full year sales ranging from 10 to 10.5 percent. The company plans to release full-year 2006 results in mid-March.

GameStop shares recently hit a year-high following exceptional Black Friday sales.

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