Console launches not enough for GameStop

|About: GameStop Corp. (GME)|By:, SA News Editor

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.

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