GameStop Corp. operates as an omnichannel 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 subscription cards, and digitally downloadable software. The company also sells mobile and consumer electronics, including smart phones, tablets, headphones, and accessories, as well as pre-owned smart phones; personal computer (PC) entertainment software in various ge...
625 Westport Parkway
Grapevine, TX 76051
Founded in 1994
GameStop Corp. Reports Sales Results for the Nine-Week Holiday Period Ended December 31, 2016; Reiterates Earnings Guidance for the Fourth Quarter and Full-Year 2016
Jan 13 17
GameStop Corp. reported sales results for the nine-week holiday period ended December 31, 2016. Total global sales for the holiday period were $2.50 billion, a 16.4% decline compared to the 2015 holiday sales period. Total comparable store sales decreased 18.7%. Comp trends improved from November to December (negative 26.6% in Nov. and negative 13.0% in Dec.) and are expected to continue to improve in January. November’s comp was significantly impacted by weak Call of Duty: Infinite Warfare and Titanfall 2 sales and aggressive console promotions on Thanksgiving Day and Black Friday.
The company is reiterating its previously announced fourth quarter and full-year 2016 earnings per share guidance of $2.23 to $2.38 and $3.65 to $3.80, respectively, excluding any year-end impairments and store closing charges, based on a favorable fourth quarter tax rate of between 32.5% and 34.5% compared to the initially forecasted rate of 36.0%. Comparable store sales for the fourth quarter are now expected to be in a range of negative 18.0% to negative 16.0% and negative 12.0 to negative 10.0% for the fiscal year.
GameStop Corp. Announces Unaudited Consolidated Earnings Results for the 13 Weeks and 39 Weeks Ended Oct. 29, 2016; Provides Earnings Guidance for the Fourth Quarter of 2016; Reiterates Earnings Guidance for the Fiscal 2016
Nov 22 16
GameStop Corp. announced unaudited consolidated earnings results for the 13 weeks and 39 weeks ended Oct. 29, 2016. For the quarter, net sales were $1,959.2 million against $2,016.3 million a year ago. Operating earnings were $98.8 million compared with $90.7 million a year ago. Earnings before income tax expense were $84.0 million compared with $84.2 million a year ago. Net income was $50.8 million, or diluted earnings per share of $0.49, compared to net earnings of $55.9 million, or diluted earnings per share of $0.53, in the prior year quarter. Non-GAAP earnings for the quarter were $50.8 million, or $0.49 per diluted share, compared to Non-GAAP earnings of $57.0 million, or $0.54 per diluted share, in the prior year quarter.
For the nine months, net sales were $5,562.5 million against $5,838.8 million a year ago. Operating earnings were $271.1 million compared with $266.3 million a year ago. Earnings before income tax expense were $231.9 million compared with $248.8 million a year ago. Net income was $144.5 million, or diluted earnings per share of $1.39, compared to net earnings of $155.0 million, or diluted earnings per share of $1.45, in the prior year period. Non-GAAP earnings for the period were $147.1 million, or $1.41 per diluted share, compared to Non-GAAP earnings of $163.9 million, or $1.53 per diluted share, in the prior year quarter.
For the fourth quarter of fiscal 2016, GameStop expects comparable store sales to range from negative 12.0% to negative 7.0%. Diluted earnings per share are expected to range from $2.23 to $2.38.
For fiscal 2016, the company is reiterating the full year diluted earnings per share guidance of $3.65 to $3.80 and comparable store sales range of negative 9.5% to negative 6.5% it provided on November 2, 2016. Earnings per share guidance assumes weighted average shares outstanding of 103,000,000 for the fourth quarter and 104,000,000 for the full year.
GameStop Corp. Approves Quarterly Cash Dividend, Payable on December 13, 2016
Nov 22 16
On November 21, 2016, GameStop Corp.'s Board of Directors approved quarterly cash dividend to its stockholders. The quarterly dividend of $0.37 per share of class A common stock will be paid on December 13, 2016 to stockholders of record as of the close of business on December 1, 2016.