GameStop's (GME) Paul Raines on Q4 2016 Results - Earnings Call Transcript

Mar. 23, 2017 9:49 PM ETGameStop Corp. (GME)8 Comments
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GameStop Corp. (NYSE:GME) Q4 2016 Earnings Conference Call March 23, 2017 5:00 PM ET

Executives

Paul Raines - CEO

Rob Lloyd - CFO

Tony Bartel - COO

Mike Mauler - EVP GameStop International

Jason Ellis - SVP Technology Brands

Analysts

San Phan - Mizuho

Seth Sigman - Credit Suisse

Colin Sebastian - Robert Baird

Brian Nagel - Oppenheimer

Curtis Nagle - Bank of America Merrill Lynch

Operator

Good day and welcome to GameStop Corporation's Fourth Quarter and Full Year 2016 Earnings Conference Call. A supplemental slide presentation is available at investor.gamestop.com. At the conclusion of the announcement a question-and-answer session will be conducted electronically. [Operator Instructions]

I would like to remind you that this call is covered by the Safe Harbor disclosure contained in GameStop's public documents and is the property of GameStop. It is not for rebroadcast or used by any other party without the prior written consent of GameStop.

At this time, I would like to turn the call over to Paul Raines, CEO. Please go ahead.

Paul Raines

Thank you. Good afternoon and welcome to the GameStop earnings call. I want to thank all our global associates for your outstanding service to our customers in 2016 navigating transformation takes a full team effort and I'm extremely proud of how our organization has built an even strong culture through out the year.

Speaking on the call today will be Rob Lloyd and Tony Bartel; also in the room are Mike Hogan, Mike Buskey, Mike Mauler, Jason Ellis and Matt Hodges.

2016 proves to be a more difficult year than we originally forecast, while our strategic transformation drove record gross margins of 35% and earnings came in within our revised guidance of 377, we encountered stiff headwinds as we completed the third year of the console cycle.

As a

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