GameStop Corp. (GME) - NYSE
  • Thu, Jan. 14, 1:19 PM
    • Best Buy (BBY -9.2%) fell to a 52-week low after the company's report on holiday sales failed to please investors.
    • The retailer's weak performance in key categories seems to have added another layer of anxiety to trading around GameStop (GME -5.6%) which is also at a 52-week low.
    • Hhgress (HGG) dropped below the $2 mark to set a 52-week low.
    • Brick-and-mortar mainstay Barnes & Noble (BKS +1.6%) etched out a new 52-week low this morning before recovering.
    • Previously: Best Buy lower after holiday numbers underwhelm (Jan. 14 2016)
    | Thu, Jan. 14, 1:19 PM
  • Tue, Jan. 12, 9:53 AM
    • GameStop (GME -9.1%) is sharply lower after reporting on holiday sales.
    • Total sales for the holiday period increased 1.8% to $2.99B. Comparable-store sales were up 4.4% over the two-month period, with the U.S. comp at +4.9%.
    • The company narrowed Q4 EPS guidance to $2.19-$2.25 vs. $2.12-$2.32 prior and $2.23 consensus. The view of full-year EPS of $3.69-$3.75 is right at the consensus mark of $3.72.
    • GameStop is a battleground stock that is prone to intra-day swings.
    | Tue, Jan. 12, 9:53 AM | 7 Comments
  • Dec. 29, 2015, 8:22 AM
    • Shares of GameStop (NYSE:GME) are on watch after Pacific Crest calls the retailer the "big holiday loser" of the season.
    • The investment firm notes that weak holiday traffic reinforces the negative impact of digital channels on the GameStop business model.
    • Pac Crest recommends that investors stay on the sidelines with GameStop.
    • GameStop closed at $28.49 yesterday vs. a 52-week range of $27.90 to $47.83. In a bullish view, SA contributor Josh Arnold thinks the +5% yield on GameStop provides a backstop for investors.
    | Dec. 29, 2015, 8:22 AM | 1 Comment
  • Dec. 11, 2015, 9:58 AM
    • GameStop (GME -4.4%) is down sharply in early trading after fresh NPD data is released.
    • Total videogame sales were up 2% to $2.47B in November, although software sales actually fell 7% to $1.02B during the month. Higher promotional activity in the form of bundling may have factored in to the software sales slip.
    • Earlier this week, there were some concerns over a promotion run by GameStop on the Star Wars Battlefront game.
    • GameStop bear Pacific Crest was quick to pile on today. "Investors always wondered when GameStop would really break; this could be that moment," noted the firm.
    • GameStop trades at a forward price-to-earnings ratio of 7.6 and a price-to-sales ratio of 0.36.
    • Previously: Electronic Arts down 5% after GameStop cuts Star Wars: Battlefront's price (updated) (Dec. 09 2015)
    | Dec. 11, 2015, 9:58 AM | 12 Comments
  • Dec. 11, 2015, 9:16 AM
    | Dec. 11, 2015, 9:16 AM
  • Dec. 10, 2015, 5:36 PM
    • Top gainers, as of 5.25 p.m.: FNSR +11.7%. SUNE +10.3%. TERP +5.7%. ADBE +5.4%. RH +4.7%.
    • Top losers, as of 5.25p.m.: UDF -7.8%. JBLU -3.2%. NDSN -3.2%. NRG -3.2%. GME -2.6%.
    | Dec. 10, 2015, 5:36 PM | 5 Comments
  • Dec. 9, 2015, 1:26 PM
    • GameStop (GME -2.4%) has cut the price of a new physical copy of Electronic Arts' (NASDAQ:EA) Star Wars: Battlefront by $20 to $40. Other major retailers are still selling the game for $60 or close to it.
    • The move comes shortly after GameStop exec Tony Bartel stated initial Battlefront sales were disappointing. "We're not going to quantify it in terms of actual numbers, but we had high expectations that diminished somewhat as it got closer and it failed to hit those lowered expectations." GameStop plunged last month in response to weak FQ3 results and FQ4 guidance.
    • EA COO Peter Moore disputed Bartel's take. "There is no weakness that is perceptible yet in the title and I want everybody understand that based on where we think this title is and based on the marketing beats ahead of us, in particular the movie launch over the next two weeks, we feel very comfortable we're going to hit the numbers we've given analysts, investors and Wall Street alike."
    • However, CFO Blake Jorgensen has admitted Battlefront may not appeal to some hardcore gamers. "We had designed it to be a much more accessible product to a wide age group. So, an eight-year-old could play with his father on the couch, as well as a teenager or 20-year-old could play the game and enjoy it. It is more accessible. And for the hardcore, it may not have the depth that they wanted in the game." The game currently has a Metacritic rating of 72/100, and a Metacritic user rating of just 5.0/10.
    • EA is off sharply on a day the Nasdaq is down 1.8%. Piper recently argued EA investors should focus on the company's FY17 (ends March '17) game pipeline rather than Battlefront's performance.
    • Update (2:03PM ET): Macquarie's Ben Schachter is defending EA. "While the stock is trading down today on the news, we believe this is a pre-planned GME price cut in conjunction with EA to support the retail sales of the game for the holidays. We note that the same holiday price drops occurred with EA’s Battlefield 4 and Battlefield 3 ... We do not see the price change as underlying weakness in the title, and still expect our previous estimate of 13m units in FY’16." EA is now down 5.6%.
    | Dec. 9, 2015, 1:26 PM | 13 Comments
  • Nov. 24, 2015, 9:30 AM
    | Nov. 24, 2015, 9:30 AM | 2 Comments
  • Nov. 23, 2015, 9:19 AM
    | Nov. 23, 2015, 9:19 AM
  • Nov. 23, 2015, 9:08 AM
    • GameStop (NYSE:GME) report same-store sales declined 1.1% in Q3. The comp was +8.1% last quarter as the timing of new releases factored in. The U.S. comp was -1.7% during the quarter.
    • Total sales were up 1.2% in constant currency. F/X swings and delays in GameStop's technology brands store openings impacted results.
    • Gross profit rate +20 bps to 32.1%. SG&A expense rate +70 bps to 25.6%. Operating earnings rate +60 bps to 4.6%.
    • Sales mix: New video game hardware -370 bps to 17.8%, New video game software -200 bps to 33.5%, Pre-owned/value video game products +100 bps to 24.9%, Digital -60 bps to 2.0%, Mobile +220 bps to 8.2%.
    • Guidance: GameStop expects Q4 EPS of $2.12 to $2.32 vs. $2.37 consensus.
    • Previously: GameStop misses by $0.05, misses on revenue (Nov. 23 2015)
    • GME -19.5% premarket to $31.96, perilously close to a 52-week low.
    | Nov. 23, 2015, 9:08 AM | 7 Comments
  • Nov. 23, 2015, 8:32 AM
    • GameStop (NYSE:GME): Q3 EPS of $0.54 misses by $0.05.
    • Revenue of $2.02B (-3.3% Y/Y) misses by $120M.
    • Shares -5.76% PM.
    | Nov. 23, 2015, 8:32 AM | 4 Comments
  • Nov. 22, 2015, 5:30 PM
    | Nov. 22, 2015, 5:30 PM | 1 Comment
  • Nov. 13, 2015, 10:25 AM
    • Noting shares had risen strongly YTD and that physical game sales have "struggled to return to growth," Pac Crest's Evan Wilson has downgraded GameStop (NYSE:GME) to Sector Weight ahead of its Nov. 23 FQ3 report.
    • Wilson observes NPD estimates U.S. physical retail game sales fell 3% Y/Y in October to $337.7M, and 4.9% during the August-October period. He argues "the ever-growing influence of digital downloads" is weighing on GameStop, and considers an estimate for flat Y/Y FQ3 sales growth (consensus is for 2.9% growth) to be at risk in spite of  “a much better [game] slate in 2015 and a much smaller headwind from declining old-gen sales.”
    • He now expects same-store sales growth to turn negative, thanks in part to recent hardware (i.e. next-gen console) sales trends.
    | Nov. 13, 2015, 10:25 AM | 8 Comments
  • Nov. 13, 2015, 9:14 AM
    | Nov. 13, 2015, 9:14 AM
  • Oct. 14, 2015, 9:15 PM
    • Demand is still strong among teens for the newest generation of videogame consoles, Piper Jaffray says -- and that's good news for leading game makers like Activision Blizzard (ATVI +0.4%) and Electronic Arts (EA +3.1%).
    • Uptake of the Xbox One (MSFT -0.5%) and PlayStation 4 (SNE -1.5%) consoles "is at the highest level we have seen, reinforcing our expectation for a much more rapid pace than prior-gen" consoles, says analyst Michael Olson, a "clear positive" for Activision, EA, Take-Two Interactive (TTWO +0.2%) and retailer GameStop (GME -1.1%).
    • The firm's semiannual survey found 73% of videogame-playing teens own an Xbox One or PlayStation 4, or intend to get one -- up from 70% last spring and 67% last fall. Some 39% currently own one of the newer consoles, up from 37% in the spring and 26% last fall.
    • "We believe the combination of next-gen console uptake and a robust lineup of AAA titles will lead to sustainable software growth through second-half 2015 and into 2016," Olson writes.
    • Mobile players are stable, but the number who'll pay is rising as well. Some 24% of teens who play mobile games by makers like Glu Mobile (GLUU +1.2%) and King Digital (KING -0.4%) say they spend in-game money, the survey said, up from 21% in the spring.
    | Oct. 14, 2015, 9:15 PM | 16 Comments
  • Sep. 29, 2015, 10:59 AM
    • GameStop (GME +0.5%) announces it will hire 28K seasonal workers for the holiday season. The hiring tally is 12% than last year.
    • The company says its hiring boost will cover a shorter period (Oct. 8 - Jan. 9) this year.
    | Sep. 29, 2015, 10:59 AM | 1 Comment
Company Description
GameStop Crop. operates as a multichannel video game, consumer electronics and wireless services retailer, which offers customers the most popular games, hardware and game accessories for next generation video game systems and the PC. The company sells new and pre-owned video game hardware,... More
Sector: Services
Industry: Electronics Stores
Country: United States