GAMESTOP SALES DOWN 27%

GameStop sales declined 26.7% to $942 million in its Q2 ended August 1, compared to $1.286 million in the same quarter last year, the company reported in its quarterly report. There were several factors driving the sales decline, starting with the closing of 206 stores worldwide during the quarter, according to CFO Jim Bell in the conference call. With another 182 stores closed in its fiscal Q1, Gamestop has now closed 388 stores worldwide so far this fiscal year out of a planned 400 to 450 closings for the year. As of the end of Q2, the company operated 5,122 stores worldwide, down 602 from a year ago.