GameStop Bucks the Recession Trend

GameStop Corp. (Grapevine, Texas) expects solid video game industry growth in 2009. The video game retailer, which sells games and equipment and offers a trade-in system, says quarterly sales were $3.5 billion, up 22 percent from a year earlier.

The company anticipates 2009 sales growth between of 10 percent and 12 percent, while plans call for opening more than 400 new stores worldwide.

“The video game business continues to enjoy robust growth, making it the fastest growing of the many consumer goods categories,” says ceo Dan DeMatteo, “2008 marked yet another year of strong new hardware sales, which will again help drive sales of new video games in the years ahead.”