Gamestop posted $269.7 million loss last year

Well that is a signficant loss for them.

Posted By | On 29th, Mar. 2013 Under News | Follow This Author @KartikMdgl


We reported earlier how Gamestop believes it will be making more money when the next generation consoles arrive, however, they posted a loss of $269.7 million in 2012.

They also generated $8.89 billion in revenue for the entire fiscal year ending in February 2.

Digital sales were up by 21% but everything else was a loss making business.

“As we look towards the start of the new console cycle, our industry market model indicates a return to growth with the launch of new game systems,” CEO Paul Raines said.

“GameStop is strong, healthy and ready to lead the industry and its customers into the next phase of gaming.”

He had earlier revealed that consumers will not buy games before the next generation.

The PS4 and Xbox 720 is expected to be released later this year and it’s something that will boost Gamestop’s revenues.

Via, GI International.

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