This is one of the cases where Nintendo should have delayed Punch-out!! in Europe for at least a month. As pointed out by BKK2, NES oddly wasn't all the rage in its time here, so both PO and Bionic Command are totally new IPs to us.
Releasing the game in the US and Japan first with tons of advertising and hyping it overseas would have had a much greater impact on sales. Still, it should develop some legs to lead it to at least 500k.
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