- Pokemon Go players going to Gamestop stores that are ‘gyms’
- Sales of Pokemon merchandise up ‘significantly,’ says CEO
Shares of Gamestop Corp. rose the most in more than a year after Chief Executive Officer Paul Raines told CNBC that sales were up 100 percent in 462 stores that are “gyms” in the Pokemon Go app.
Raines also said that Pokemon merchandise is up “significantly across the board.” Gamestop is the largest distributor of Pokemon video games and collectibles, he said. Pokemon Go, released earlier this month by Nintendo Co., allows players to battle other teams in physical locations called gyms.
“We’re very happy to see all this excitement around Pokemon in what is traditionally a slower time of the year for video gaming,” Raines said.
Pokemon Go has become a worldwide frenzy, topping the charts for Apple and Android app downloads almost instantly. Since its augmented-reality technology encourages players to roam around in the physical world, it’s had the side benefit of creating an unexpected boon for retailers, restaurants and bars.
Gamestop climbed as much as 6.8 percent to $29.88 in New York trading, the biggest intraday gain since May 2015. The shares had been little changed this year through last week.