Expenses related to the Electronic Boutique merger offset high game sales.
Gamestop’s profits dropped to $3.2 million for the financial quarter which ended on July 29th, compared to $7.9 million for the same period last year. Although game sales are high, the company continues to pay down debt and interest related to the merger with Electronic Boutique last year.
Sales for the period are up to $963.3 million compared to $415.9 million in the same quarter last year. Gamestop CEO R. Richard Fontaine stated that, “A major milestone of the quarter was completing the integration of GameStop and Electronics Boutique.” He went on to tout the smooth transition and integration of POS systems without “deterioration in customer service.”