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GameStop had a $3B holiday season

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Holiday season sales were down for retail giant GameStop in 2014, as the growing number of Xbox One and PlayStation 4 owners failed to make up for the console launch shopping frenzy of 2013.

Total global sales for the holiday period were $2.94 billion, a 6.7 percent decline compared to the 2013 holiday sales period. However, software sales grew 5.8 percent, driven by a 94.4 percent increase in the number of PS4 and Xbox One games available to buyers.

Sales of new hardware declined 32 percent which the company attributes to lower prices of consoles in 2014. New console hardware sales were up 31.3 percent in December 2014 compared to December 2013, the month after the new consoles arrived.