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GameStop reports Q2 2016 results

Retailer GameStop reported its Q2 2016 results today, showing a total global sales fall of 7.4%, to $1.63 billion for the quarter. Net earnings for the Q2 were $27.9 million.

"As expected, the continued growth and increased profit contribution of our non-physical gaming businesses drove our second quarter results," said CEO Paul Raines.

"Tech Brands sales grew more than 50%, omni-channel sales increased 16%, Collectibles sales more than doubled and year-to-date, more than half of GameStop's operating earnings have come from non-physical gaming categories. These new businesses offset a tough quarter for video gaming and prove that our diversification strategy is succeeding."

Notably pre-owned sales only fell 3.2% compared to the second quarter of 2015.

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