GameStop announces €3m pre-tax losses

29 Nov 2010

Video-game and entertainment retailer GameStop has announced its Irish operation went into the red last year, having recorded pre-tax losses of around €3m.

The company, which recently announced it was offering Irish customers deals in the online shopping phenomenon that is Black Friday, filed documents with the Companies Office that showed its recorded losses.

Apparently, lagging console sales were to blame for the drop in profits and GameStop Group Ltd recorded €3m pre-tax losses compared to pretax profits of €2.86 the previous year, according to The Irish Times.

GameStop said business was good considering the current economic climate and that the life cycle of certain products and consoles were factors.

The group recorded a rise in administration expenses, as well as an operating loss of €1.64m last year after recording an operating profit of €4.5m in 2008.

The US-owned business has 55 outlets throughout Ireland and recently announced a staff recruitment drive for the busy Christmas period.