GameStop Posts Substantial Sales Jump in FY2007, Named World's Fastest Growing Retailer

Video games retailer GameStop saw a 33% sales increase to a record $7.1 billion in the company's 2007 fiscal year, Gamasutra reports.

Officials from the company reported a $288.3M profit in its full financial year, a roughly 58% increase over its $158.3M profit in 2006. Sales figures in GameStop's fourth quarter saw a 46.2% increase, with profits from the holiday season accounting for $189.8M of the year's total.

In a drill-down of the data, GameStop noted that it sold roughly 546 million used video game products in its 2007 fiscal year, accounting for roughly 19% of total sales. Meanwhile, total revenue from used products clocked in at $262.2M, which represented 48% of the company's 2007 revenue.

The company was also named as the world's fastest growing retailer in the Fortune 500, with the opening of 586 new stores around the globe.

Reflecting data reported by the sales tracking firm NPD earlier this year, the company said that Infinity Ward's Call of Duty 4, Harmonix's Rock Band, Ubisoft's AssassinÂ’s Creed, Nintendo's Super Mario Galaxy and Neversoft's Guitar Hero III were its five best selling games during the period.