Dive Summary:
- A rapid decline of in-store traffic is causing alarm for the already struggling video game company with stores sales down 4.4%.
- As digital sales skyrocketed 40% this year, "Pre-owned" sales dropped by over 15%, and new software fell 5.1%
- The decrease in both traffic and declining in-store sales has forced shares in the company to drop 6.3% this morning.
From the article:
"...In a troubling sign for the already struggling video game business, GameStop this morning said sales for the nine-week holiday period ended December 29 totalled $2.88 billion, down 4.6% from the comparable year earlier period..."
