GRAPEVINE, Texas–(BUSINESS WIRE)–GameStop Corp. (NYSE: GME), the world’s largest video game and entertainment software retailer, today reported sales and earnings for the first quarter ended May 3, 2008.

Net earnings were $62.1 million for the first quarter of 2008, as compared to net earnings of $24.7 million for the first quarter of 2007, an increase of 151.4%. Diluted earnings per share were $0.37, including debt retirement costs of $0.01 per diluted share, beating the high-end of guidance by $0.05 per share.

GameStop sales increased 41.8% to $1,813.6 million in the first quarter, in comparison to $1,279.0 million in the prior year quarter. Comparable store sales increased 27.1% during the first quarter. New video game software sales grew an amazing 72%. The top five selling games during the quarter were Take Two Interactive’s GRAND THEFT AUTO IV, with only five days of sales at the end of the quarter; SUPER SMASH BROS. BRAWL and MARIO KART WII from Nintendo; RAINBOW SIX: VEGAS 2 from Ubisoft; and Electronic Arts’ ARMY OF TWO.

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