GameStop President On Black Friday Sales

Shares of the multi-channel games retailer GameStop Corp. (NYSE: GME) took a major beating last Friday following the disappointing quarterly results announced by the company. However, with strong sales coming in this holiday season, the company is hoping to make up for the lost ground.

Tony Bartel, GameStop’s president, was recently on CNBC to discuss early Black Friday sales and the company’s growth strategy.

 “It’s looking very exciting, yesterday at our stores I was out at midnight, we had lines at midnight and at many of our stores thousands of people lined up outside at GameStop. We had some great offers; great exclusive offers that people came to. We offered a great service level at midnight and then midnight to 1’o clock it was very strong, I think during the evening customers went home. Now, we are seeing the second surge of traffic here at this store,” Bartel said.

When asked about the dismal performance of GameStop in the third-quarter, Bartel replied, “I think what’s interesting to note about the third quarter is that all of our channels, in fact many of our channels had great performance during the third quarter. We had a 147% growth in hardware, our mobile business was up 125%, digital was up 52%. So there was a lot of growth that took place […]”

“First let me address the strength of the new console cycle, 73% higher than the last time we launched consoles. So, from an industry perspective, the new consoles are taking off at a great pace and they are off to a great launch,” Bartel added.