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Gamestop CEO Paul Raines on the outlook for holiday season sales and the top games such as “Modern Warfare 3.”
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Our I don't know of this 100 billion dollars -- man -- man it was close the Cyber Monday more like high for Monday Americans pointing and clicking their way.
The words stunning 50% surge in sales over this time last year today.
Just like this past weekend proving strong for electronic items particularly.
The video games and consoles that we got -- two of those industries giants whether it's tonight.
The CEO of Activision whose call of duty apparently.
But was LA now a lot of call of duty video games but before we get to -- the CO GameStop which sells a lot of those same game that whole bunch of others.
To game stops the top guy Paul Raines.
-- early read on today what are you finding out.
And -- must be with -- I'm very happy today I was I was just with the team.
And us Cyber Monday is -- really going well we're pleased with our traffic and our conversion -- and order volumes you know it's interesting -- The holiday shopping season seems to start earlier every year I mean our online sites around the world were busy starting middle last week.
So we're very happy of what we're seeing as you mentioned consoles are -- leading gift item this holiday season I'm.
You sell everything in here in -- -- a lot of them physically and content big but boy you've spent a lot -- that space.
And you're you're just necessary -- and they know what they're doing in order to deal with the idiot -- like me when they come in.
But what what are the real barn burners forty right now what's selling better either online or in the -- -- to.
Stores in -- Yes sure as I said -- I saw some data today that says.
Consoles are a leading gift item this year and no other reason is videogame consoles particularly the Xbox -- -- PlayStation are really home entertainment devices.
You can play console games you can watch sports like I do watch a lot of content.
And stream a lot of content as well as download products so the consoles are exciting of course there's great titles are gonna have -- on an amended.
Model where for three is the leading entertainment property.
Probably in history we are the leading retailer of that property we like that battlefield three.
Uncharted three is out lots of great software.
We also are seeing a lot of tablet sales.
You know we're carrying some exciting tablets in our stores.
And we're seeing a lot of excitement around gaming applications.
For tablets that coupled with a lot of our buy sell trade refurbished product -- devices lots a great gift items out there for consumers this year on the other.
You -- not a lot of discounting I know you have this you know.
You can you can you can buy prior owned the gains are council's on the likelihood is that the use part of your business but -- certainly.
Bob a big part but obviously people do not have to be in -- to the degree we thought.
With cut rate sales may be in this -- the business so what what are we to make about.
Well you don't know we've never been a big -- our competitors that's really the only value proposition they have what we do.
-- we offer consumers the option of trading in their old product.
Both software consoles and today we can you can bring in your iphones you -- has -- your iPods.
And dot tablets and you can trade -- mundane stuff that makes everything less expensive so we think that buy sell trade model is the best value proposition last year.
We give consumers over a billion dollars of trade credits to help them by their holiday gifts so.
You know consumers tell us that's the number one way to drive sales and value -- we we focus on that more than we do on discount.
The real quickly I wondered that works against you though because you do -- such an open policy about that someone could say all right here's a Nintendo system I tried it for thirty days and I want to try.
You know an Xbox and all other words they could use and abuse it.
Well you know -- we we trust consumers in many ways we think.
That the ability to trade with us as one of our biggest advantages we have so.
If -- occasion we get some abuse we we really believe consumers see -- a great place to bring their products.
You know you can buy tablets from -- or consoles and when you're tired of playing with them and you -- to upgrade to the next one.
Bring in the -- and we'll give you fair price for a we think that's got a lot of power aren't but if you see some very in your face nine and ten year old -- -- -- -- store and try to.
You know policy and -- in a corner on their last names Cavuto.
I beg you to just say no to say -- They're gonna be happy to work for them very good judgment great being -- continued success -- -- Congratulations on the fifteen year anniversary -- Fox News by the way we're big fans thank you very much for your big.
