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GameStop Corp. (GME)

  • Tue, Sep. 29, 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.
    | Tue, Sep. 29, 10:59 AM | 1 Comment
  • Fri, Sep. 11, 5:27 PM
    • Videogame sales slipped in August, despite the "annual Madden," with new physical games and hardware down 2% to $548M, according to NPD Group.
    • That's due to a bigger decline in software sales, though hardware slipped as well. Game sales fell 10% to $207.9M on tough comps against last year's Diablo III console launch and Sony's The Last of Us.
    • Spending on hardware dropped a comparatively lighter 2% to $190.5M. Accessory sales rose, however, up 12% to $150M. Current-gen consoles rose to 68% of software sales from the prior month's 61%, according to Piper Jaffray.
    • Madden NFL 16 (EA +0.3%) was the unsurprising leader in software for August after its late-month release, ahead of a pair of Microsoft (MSFT +0.4%) titles, Minecraft and Gears of War: Ultimate Edition.
    • “New physical software sales for [Xbox One and PS4] consoles, up 34%, did not offset the 51% decline in [last] generation console sales as well as the 24% drop in portable software sales,” said NPD analyst Liam Callahan.
    • Piper's Michael Olson reiterated Overweight ratings on Activision Blizzard (ATVI +0.3%), EA and Take-Two (TTWO +0.1%), as well as on GameStop (GME +1%). "We expect that 2015 and 2016 will be the equivalent to 2007 and 2008 during the prior console cycle," he writes; "both were years that experienced significant industry software growth, following several years of decline or limited growth in the space."
    • Meanwhile, Sony (SNE +0.9%) confirmed its PlayStation 4 outsold competing hardware from Microsoft and Nintendo (OTCPK:NTDOY -1.5%) yet again in August.
    | Fri, Sep. 11, 5:27 PM | 2 Comments
  • Fri, Aug. 28, 9:31 AM
    • Benchmark downgraded GameStop (GME -3.2%) to a Sell rating after all of the retailer's segments missed its estimates for Q2.
    • The investment firm is the latest to call into question the core business model of GameStop.
    • "We believe the console will complete the turn to digital within the next 5 years," warns Benchmark.
    • Benchmark has a $29.76 on GME.
    • Some bulls defended the stock today post-earnings. Wedbush raised its PT to $55, while Telsey Advisory is in at $47. During the earnings call, AT&T-branded stores and the integration of ThinkGeek were highlighted by GameStop execs as two earnings drivers.
    • Earnings call transcript
    | Fri, Aug. 28, 9:31 AM | 5 Comments
  • Thu, Aug. 27, 4:24 PM
    • GameStop (NYSE:GME) report same-store sales rose 8.1% in Q2, aided by a beneficial sales mix.
    • The U.S. comp was up 10.8% during the period.
    • Gross profit rate +110 bps to 32.9%.
    • New video game hardware and software both fell as a percentage of total sales.
    • Guidance: GameStop sees Q3 EPS of $0.53-$0.60 vs. $0.59 consensus and full-year EPS of $3.66-$3.86 vs. $3.88 consensus.
    • Previously: GameStop beats by $0.06, beats on revenue (Aug. 27)
    • GME +4.33% AH to $48.20.
    | Thu, Aug. 27, 4:24 PM | Comment!
  • Thu, Aug. 27, 4:15 PM
    • GameStop (NYSE:GME): FQ2 EPS of $0.31 beats by $0.06.
    • Revenue of $1.76B (+1.7% Y/Y) beats by $20M.
    • Press Release
    | Thu, Aug. 27, 4:15 PM | Comment!
  • Wed, Aug. 26, 5:35 PM
  • Tue, Aug. 25, 5:35 PM
    • investors should stick with "market darlings" - the 25 stocks that had performed the best during the six months before a market pullback - according to the analyst team at RBC.
    • The firm notes that although many recent winners are leading the market lower, the extent of the underperformance is just 1%; it also says investing in the group following sharp market pullbacks is a winning strategy over the ensuing week, month and six months.
    | Tue, Aug. 25, 5:35 PM | 59 Comments
  • Fri, Aug. 14, 8:10 AM
    • SunTrust raises its price target on GameStop (NYSE:GME) to $58 from $50 based off of improved sales trends.
    • Sales for new physical games and hardware at U.S. retailers rose 18% in June and 11% in July, according to some estimates.
    • The new PT from SunTrust is a Street high.
    • GME +36% YTD.
    | Fri, Aug. 14, 8:10 AM | Comment!
  • Fri, Jul. 17, 9:25 AM
    • GameStop (NYSE:GME) completes its acquisition of Geeknet.
    • The company plans to run the pop-culture collectibles business as a subsidiary.
    • Shares of GameStop have shown vitality this week with a +8% gain.
    | Fri, Jul. 17, 9:25 AM | Comment!
  • Fri, Jun. 26, 3:00 PM
    • Tiburon Research has an interesting breakdown of how retail store sales fared on a wider "two-year stack" at comparable stores.
    • Q1 2-year comps that impressed were from Michael Kors (NYSE:KORS) +20.4%, Ulta Salon (NASDAQ:ULTA) +20.1%, and  GameStop (NYSE:GME) +14.4%. J.C. Penney (NYSE:JCP) was +10.8% off an easy 2-year compare.
    • The story is different at Coach (NYSE:COH) -44%, Vera Bradley (NASDAQ:VRA) -24.7%, Aeropostale (NYSE:ARO) -24.0%,  Cabela's (NYSE:CAB) -23%, and Staples (NASDAQ:SPLS) -7%.
    • TIburon Research comparable-store sales table
    | Fri, Jun. 26, 3:00 PM | 11 Comments
  • Mon, Jun. 15, 3:15 PM
    • GameStop (GME -1.1%) trades lower following an announcement by Microsoft of backwards compatibility for the Xbox One console.
    • The development could impact used game sales.
    • Shares of GME were in positive territory before the Microsoft news.
    • Also in the backdrop on GameStop is a recent channel check by Cowen which showed a 25% Y/Y drop in physical videogames sales (console and handheld) during May. The timing of certain releases impacted the large swing.
    | Mon, Jun. 15, 3:15 PM | 7 Comments
  • Tue, Jun. 2, 2:46 PM
    • GameStop (GME +1.4%) outbids Hot Topic for Geeknet (NASDAQ:GKNT) with a $20 per share offer.
    • The acquisition will give the retailer a new revenue channel through the ThinkGeek collectibles brand which has a loyal following.
    • Shares of Geeknet are up 0.35% to $19.85.
    | Tue, Jun. 2, 2:46 PM | Comment!
  • Fri, May 29, 9:14 AM
    | Fri, May 29, 9:14 AM | 5 Comments
  • Thu, May 28, 5:23 PM
    • GameStop (NYSE:GME) is up 3.9% in postmarket trading after reporting Q1 profits that grew 15%, easily beating expectations, on revenues boosted by dozens of new stores and strong digital pickup.
    • Same-store sales were up 8.6%. In the prior-year quarter, same-store sales had risen 5.8%.
    • Revenues of $2.06B were up 3.2%, but up 8.1% in constant currency. New software sales rose 9.6% (15.8% in constant currency).
    • Diversifying its offering was paying benefits: Non-GAAP digital receipts rose a healthy 17.2% to $222.2M. Sales in mobile and consumer electronics rose 33.9% to $136.8M.
    • GameStop bought back $46.4M of stock in Q1, and has just over $400M left on its current repurchase authorization.
    • The company provided in-line guidance for Q2 EPS of $0.21-$0.25, and raised guidance for full-year EPS to $3.63-$3.83 to account for a reduction in shares (which is on the low side of an expected $3.84 EPS). It expects comparable-store sales should range from flat to +3% for Q2, and +1% to +6% for 2015.
    • Press release
    | Thu, May 28, 5:23 PM | Comment!
  • Thu, May 28, 4:07 PM
    • GameStop (NYSE:GME): Q1 EPS of $0.68 beats by $0.09.
    • Revenue of $2.06B (+3.5% Y/Y) beats by $50M.
    • Shares +7.11%.
    • Press Release
    | Thu, May 28, 4:07 PM | 4 Comments
  • Wed, May 27, 5:35 PM
GME vs. ETF Alternatives
Company Description
Gamestop Corp is a multichannel video game retailer. It sells new and pre-owned video game hardware, physical and digital video game software, accessories, as well as PC entertainment software, new and pre-owned mobile and consumer electronics products.
Sector: Services
Country: United States