GameStop reports drop in hardware sales

Reporting its second quarter of fiscal year 2016 financial results today, the retailer cited a significant decrease in hardware sales due to announcements and rumors leading into E3.

GameStop reports drop in hardware sales
Retailer GameStop reported its second quarter of fiscal year 2016 financial results today, citing a decrease in new hardware sales by 33.4% and in new software by 18.2%.

New software sales for console twins PlayStation 4 and Xbox One dropped a combined total of 11.6%, while pre-owned software for the same devices rose 32%. New and pre-owned software sales for PlayStation 3 and Xbox 360 dropped by 74% and 39% respectively.

Chief Financial Officer Robert Lloyd cited that the company saw a "noticeable" decrease in sales after announcements and rumors of consoles arose leading into E3.

It remains to be seen whether or not PlayStation 4's Neo or Xbox One's Project Scorpio can breathe new life into the numbers.

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