GameStop Sales Miss Analysts’ Estimates as Game-Buying Drops
- Retailer may enter new retail categories, finance chief says
- Profit meets estimates on sales of mobile phones, electronics
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GameStop Corp., the video-game retailer that’s expanding into mobile phones and collectibles, posted second-quarter sales that missed analysts’ estimates in a tough quarter when there were fewer new titles.
Sales fell 7.4 percent to $1.63 billion in the quarter ended July 30, the Grapevine, Texas-based company said Thursday in a statement, missing the $1.71 billion average of analysts’ estimates compiled by Bloomberg. Net income rose 10 percent to $27.9 million, or 27 cents a share, matching Wall Street projections.