Retail giant GameStop appears to be doing okay despite the financial woes engulfing the United States right now. "I would never take the position that as a company we're totally recession-proof," says chairman and chief executive Richard Fontaine, further adding "But I would certainly bet on the video game business." Even industry analyst Michael Pachter sees the retail giant as being resistant to recession, commenting that they're "about as recession-resistant as anyone in retail can be."The company did a remarkable amount of business last year, with total sales coming to $7.1 billion. During the previous year, GameStop did $5.3 billion in sales. In terms of profits, that's $288 million in 2007, up from $158 million the year before.
[Via Go Nintendo]
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Reader Comments (Page 1 of 1)
4-10-2008 @ 12:36AM
hvnlysoldr said...
Fear of recession is the major factor that there is a recession.
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4-10-2008 @ 1:25PM
samus aran said...
^^^Exactly.
We are not in a recession. Now quit fearmongering!
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4-10-2008 @ 7:35PM
burgerbat said...
Good thing not that many people read this site, because I'm pretty sure we're not in a recession, dumbass.
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