Popular retailer GameStop disclosed today its financial results for third quarter of 2017, which ended on October 28th (GameStop uses a different calendar than most companies). During the financial conference call for investors and analysts, the company’s executives talked about the performance of Microsoft’s new Xbox One X console.
First of all, Chief Financial Officer Robet Lloyd mentioned that the Xbox One X will be a sales driver in the current quarter, and has been “in high demand.”
Chief Operating Officer Tony Bartel followed up by explaining that Xbox One X has been “up to a very strong start” after selling out the entire “market-leading” initial allocation in two days, the retailer is selling new units “as soon as they hit the shelves.” According to Bartel demand will outstrip support throughout the holidays.
Speaking of games, GameStop is “very pleased” with the performance of Call of Duty: WWII, which sold 64% more than Call of Duty: Infinite Warfare last year. Destiny 2‘s “strength” has also been mentioned as a driver of a 5.4% increase in overall new software sales.
In other news, we learn that Chief Executive Officer Paul Raines is seeking treatment for the recurrence of a previous medical condition. Raines underwent surgery back in 2014 to remove a small cancerous tumor from his brain. His post will be temporarily covered by Co-Founder Daniel DeMatteo as Interim CEO, who accompanied the announcement with a statement:
“We continue to send our best wishes and strong support to Paul and his family. The Board of Directors has tremendous confidence in GameStop’s executives and the management team’s ability to effectively run the business with the Board’s support.”