Game retailer GameStop released strong Q1 2015 results, up 8.1 percent (3.34) to $44.18 to end the day, after many investors predicting the company's stock would actually suffer. Overall, the retailer also saw an average 8.6 percent in same store sales year-over-year, as the company continues to evolve during changing times.
"We're such a complex animal," said Paul Raines, CEO at GameStop, in a statement published by BloombergBusiness. "There is no elevator pitch for GameStop." It's an incredible announcement, as more gamers and financial investors feel GameStop will eventually end up just like Blockbuster: gone.
Amazingly, the store has managed to evolve despite many gamers choosing to download and install game content, leaving behind physical game sales. However, GameStop has 30 percent to 40 percent market share in digitally licensed content, providing extra game levels and other DLCs.
GameStop may have persevered this time around, but expect this to be a continued battle each time the company releases its financial results. When is the last time you went into a GameStop?