Scalper1 News
Video game retailer GameStop (GME) hit the reset button late Thursday, delivering lower-than-expected fiscal Q4 sales and earnings and offering disappointing 2015 guidance. GameStop plans to reduce its video-game-store count and increase the number of its stores that sell mobile devices and wireless plans. GameStop stock was down nearly 1% in morning trading on the stock market today, near 38.50. The Grapevine, Texas-based company earned $2.15 a share for the quarter ended Jan. 31, up 13% from the year-earlier quarter. Analysts polled by Thomson Reuters were expecting EPS of $2.17. Sales fell 5.6% to $3.48 billion. Wall Street was forecasting $3.6 billion. Growth in new game software and mobile and consumer electronics was offset by a decrease in game hardware sales the company said. For the current quarter, GameStop expects comparable store sales to rise 2.5% to 5.5%. It sees total revenue slipping 0.5%, based on the midpoint of its… Scalper1 News
Scalper1 News