Leading video game retailer GameStop today announced its sales results for the nine-week holiday shopping period ended January 5, 2008. Total sales climbed 34.7 percent from $1.7 billion (one year ago) to $2.3 billion. Importantly, comparable store sales for the holiday period also jumped 20 percent.

The retailer attributed its success in part to a surge in video game software (up 45 percent). The top five selling games at GameStop were Guitar Hero III (Activision), Call of Duty 4: Modern Warfare (Activision), Assassin's Creed (Ubisoft), Rock Band (MTV/EA), and Super Mario Galaxy (Nintendo).

A sales breakdown revealed that new game software accounted for 43.2 percent of total sales while used games (and other used game products) accounted for 17.6 percent of total sales. New video game hardware took 26 percent.

"Driven by robust domestic and international sales, GameStop achieved the most successful holiday season results ever," said a very pleased R. Richard Fontaine, Chairman and Chief Executive Officer. "Video game software sales grew by 45%, while the next generation installed base is now triple last year's base and a very positive leading indicator for future sales growth."

He continued, "[I] was particularly pleased with record holiday handheld sell-outs of the Nintendo DS and the Sony PSP. The Nintendo Wii, even in the face of on-going seasonal shortages, Microsoft's Xbox 360 and Sony's PlayStation 3, proved to be on many holiday wishlists as new console sales were very strong.

"Video gaming is redefining itself and attracting more players than ever as demonstrated by the growing number of Wii parties and Guitar Hero fests held not only at home, but also on college campuses, cruise ships and any place people are having fun."

Following a very successful holiday period, GameStop said it's raising its fourth quarter 2007 comparable store sales guidance from a range of seven to nine percent to be in a range of 15.5 to 16.5 percent. Fourth quarter earnings per share are now expected to be in a range of $1.09 to $1.10. Additionally, the company has increased its full-year comparable store sales guidance to be in a range of 23.5 to 24.5 percent, while full-year earnings per share are expected to be in a range of $1.75 to $1.76 ($0.13 per share higher than guidance issued back on November 20, 2007).

GameStop's full-year 2007 sales and earnings results and fiscal 2008 earnings guidance are currently scheduled to be announced in mid-March.