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February 13, 2016 6:59 PM ET

Specialty Retail

Company Overview of GameStop Corp.

Company Overview

GameStop Corp. operates as a multichannel video game retailer. It sells new and pre-owned video game hardware; physical and digital video game software; pre-owned and value video game products; video game accessories, such as controllers, gaming headsets, memory cards, and other add-ons for use with video game hardware and software; and digital products, including downloadable content, network points cards, prepaid digital and online timecards, and digitally downloadable software. The company also sells mobile and consumer electronics, including new smart phones, tablets, headphones, and accessories, as well as pre-owned smart phones, tablets, and MP3 players; personal computer (PC) entertai...

625 Westport Parkway

Grapevine, TX 76051

United States

Founded in 1994

18,000 Employees

Phone:

817-424-2000

Key Executives for GameStop Corp.

Chief Executive Officer and Director
Age: 51
Total Annual Compensation: $1.2M
Executive Chairman
Age: 67
Total Annual Compensation: $821.9K
Chief Financial Officer and Executive Vice President
Age: 53
Total Annual Compensation: $653.9K
Chief Operating Officer
Age: 51
Total Annual Compensation: $853.6K
Executive Vice President and President of International
Age: 54
Total Annual Compensation: $545.1K
Compensation as of Fiscal Year 2014.

GameStop Corp. Key Developments

GameStop Corp. to Close all Stores in Puerto Rico; Plans to Open New U.S. Distribution Center

GameStop Corp. is cutting stores overseas. The company confirmed that it will close its 35 stores in Puerto Rico over the next few months. The company plans to open a 630,000-square-foot distribution center in Shepherdsville, Kentucky. The facility replaces a previous center in Louisville, Kentucky, and is 370,000 square feet larger. It will be used to distribute products to more than 4,000 U.S. stores, fulfill e-commerce orders, and repair and refurbish pre-owned video game hardware and software.

Gamestop Corp. Reports Sales Results for the Nine-Week Holiday Period Ended January 2, 2016; Revised Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2016

GameStop Corp. reported sales results for the nine-week holiday period ended January 2, 2016. Total global sales for the holiday period increased 1.8% to $2.99 billion (a 5.9% increase in constant currency), compared to the 2014 holiday sales period. Foreign currency exchange rates reduced total sales by $119.5 million. Total comparable store sales for the holiday period increased 4.4%, growing 4.9% in the U.S. and 3.2% internationally. Global multichannel sales grew 47.4%, driven by ThinkGeek.com sales and gains in Ship-from-store, Pickup-in-store and Web-in-store initiatives. For the fourth quarter of fiscal 2016, the company now expects same store sales in the range of 2.5% to 4.0% and earnings per share in the range of $2.19 to $2.25 compared to the previous guidance, which expected to report same store sales in the range of negative 1.0% to positive 6.0% and earnings per share in the range of $2.12 to $2.32. For the full year of fiscal 2016, the company now expects same store sales in the range of 4.0% to 5.0% and earnings per share in the range of $3.69 to $3.75 compared to the previous guidance, which expected to report same store sales in the range of 2.0% to 6.0% and earnings per share in the range of $3.66 to $3.86.

GameStop Seeks Acquisition

Paul Raines, Chef Executive Officer of GameStop Corp. (NYSE:GME) said, "We have a very strong financial policy, capital deployment, buybacks, dividends et cetera and we'll continue to be that way as we acquire new businesses."

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