October was a good month for games, but not for the stores that sell them: Gamestop has warned investors that despite a packed lineup, sales were below expectations and it has reduced its profit projections accordingly.
As reported by Gamesindustry.biz, CFO Paul Raines advised that the company's "expectation was that the new titles released in October would provide a catalyst for new software sales," but "the titles underperformed our forecasted sales."
The company didn't call out any specific titles in the statement, but October was a really strong month for software. That means that a combination of Battlefield 1, Titanfall 2, Mafia III, Civilization VI, World of Final Fantasy, and the entire PlayStation VR launch slate failed to sell in the numbers expected, with overall Gamestop sales expected to be down 6.5% compared to last year.
As digital downloads continue to reduce the need for physical discs, times are hard for game retailers: , and on the other side of the Atlantic, UK specialist GAME has resorted to charging people for trying out PSVR. Raines pointed that Gamestop did much better on sales of technology and collectibles. The company bought up a 507 AT&T stores earlier in the year in an effort to diversify itself away from the shrinking physical gmes market, having acquired nerd apparel experts ThinkGeek the year before.