GameStop sales surpassed $7 billion last year

GameStop's last fiscal year ended Feb. 2 and the company continues to master its retail space with $7.09 billion in sales. GameDaily reports the company saw a 33% increase in sales over last year and the company's net earnings blasted off with an 82% increase to $288.3 million. The company saw a 50% increase in operating earnings and continued its expansion with 586 new stores in the last fiscal year.

GameStop CEO R. Richard Fontaine says that 2007 was "impressive" and the "expanding demographic profile of the video game player has moved this business into the mainstream of entertainment." He believes the company's used games model and strong '08 video game lineup will propel the company through this year. Despite the slumping US economy, Fontaine expects 575 to 600 new stores to open this fiscal year in the States -- people need something to do when they can't afford to go out anymore.