Console launches not enough for GameStop

GameStop (GME) reports comparable-store sales rose 7.8% in FQ4 as console launches drove traffic.

As expected, the company saw its mix of new video game hardware jump higher. On the software side, new video games accounted for 33% of sales and pre-owned titles made up 20.1% of sales. Profit on pre-owned titles was flat compared to a year ago while profit from new games was 13% lower.

GameStop announces it expects to lower its video game store count by approximately 2% this year.

FY14 EPS guidance is set at $3.40-$3.70 by GameStop vs. $3.76 consensus.

GME -5.4% premarket

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Comments (3)
  • Overanalytical
    , contributor
    Comments (1289) | Send Message
    And now Wal-Mart is coming into the mix...
    27 Mar 2014, 10:03 AM Reply Like
  • U2A Ventures
    , contributor
    Comments (356) | Send Message
    somebody needs to buy them and eliminate the competition. best buy could do it and implement GameStop as a store-in-a-store concept.
    27 Mar 2014, 11:20 AM Reply Like
  • Overanalytical
    , contributor
    Comments (1289) | Send Message
    Kind of like geek squad. I actually like that idea a lot...
    27 Mar 2014, 11:30 AM Reply Like
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