Question about profit from new game sales

when i worked in a game store, we bought new games for about ~$47 each (in bulk) and sold them for 60.

and there is NO profit on console sales.

used games is how these stores survive.

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when i worked in a game store, we bought new games for about ~$47 each (in bulk) and sold them for 60.

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The amount they're purchased for greatly depends on the publisher and whatever agreements were already in place beforehand. It's safe to estimate about 25% of the price is retailer margin.

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and there is NO profit on console sales.

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Absolutely correct. When I worked corporate retail, we made less than a nickel on every piece of hardware. There were incentives given to us though for meeting sales goals (more stock, cheaper ties-in, price drop reimbursements, etc.).

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used games is how these stores survive.

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For the most part. They also all pay their employees very poorly, so they have little overhead. Each store is also filled with advertisements that change weekly bringing in a little more revenue.

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So if they sell it for $45 to the store, how much of that $45 goes to Microsoft or Sony

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Not 100% for all situations and retailers, but gives you a good idea. This was pulled from an IGN article.

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Well that answers all of my questions

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Some extras: Nintendo has had historically higher licenses fees than MS and Sony. And 1st party titles obviously get to keep the extra 10-12% of the price that would have gone towards a licensing fee.