GameStop posts record sales figures for 2005

US retailer GameStop has published its report for financial year ending 2005, revealing record-breaking sales figures and profits of more than USD 100 million.

Sales topped USD 300 billion, almost USD 1.7 billion of which were racked up between November and January. Figures for the same period last year were less than half of that at USD 708 million.

GameStop's earnings expectations were exceeded for the period, with profits standing at over USD 100 million compared to USD 61 million in 2004. The company's share price has soared as a result, rising by almost 8 per cent to USD 45.

According to GameStop, the rise is set to continue - sales are predicted to rise to 17 per cent in 2006 as the Nintendo Revolution and PlayStation 3 hit the shelves.

GameStop's latest figures are the highest ever reported by the retailer; the increase in sales and profits is attributed to the company's acquisition of Electronics Boutique last year.