September 26, 2016 7:31 AM ET

Specialty Retail

Company Overview of GameStop Corp.

Company Overview

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

United States

Founded in 1994

20,000 Employees

Phone:

817-424-2000

Key Executives for GameStop Corp.

Chief Executive Officer and Director
Age: 52
Total Annual Compensation: $1.2M
Co-Founder and Executive Chairman
Age: 68
Total Annual Compensation: $556.7K
Chief Financial Officer and Executive Vice President
Age: 54
Total Annual Compensation: $685.5K
Chief Operating Officer
Age: 52
Total Annual Compensation: $896.5K
Executive Vice President and President of International
Age: 55
Total Annual Compensation: $571.8K
Compensation as of Fiscal Year 2015.

GameStop Corp. Key Developments

GameStop Corp. Announces Unaudited Consolidated Earnings Results for the 13 Weeks and 26 Weeks Ended July 30, 2016; Provides Earnings Guidance for the Third Quarter of Fiscal 2016; Reiterates Earnings Guidance for the Full Year of Fiscal 2016

GameStop Corp. announced unaudited consolidated earnings results for the 13 weeks and 26 weeks ended July 30, 2016. For the quarter, net sales were $1,631.8 million against $1,761.9 million a year ago. Operating earnings were $58.3 million compared with $51.7 million a year ago. Earnings before income tax expense were $44.7 million compared with $46.1 million a year ago. Net income was $27.9 million, or diluted earnings per share of $0.27, compared to net earnings of $25.3 million, or diluted earnings per share of $0.24, in the prior year quarter. Non-GAAP earnings for the quarter were $27.9 million, or $0.27 per diluted share, compared to Non-GAAP earnings of $33.1 million, or $0.31 per diluted share, in the prior year quarter. For the six months, net sales were $3,603.3 million against $3,822.5 million a year ago. Operating earnings were $172.3 million compared with $175.6 million a year ago. Earnings before income tax expense were $147.9 million compared with $164.6 million a year ago. Net income was $93.7 million, or diluted earnings per share of $0.90, compared to net earnings of $99.1 million, or diluted earnings per share of $0.92, in the prior year quarter. For the third quarter of fiscal 2016, GameStop expects comparable store sales to range from negative 2.0% to 1.0%. Diluted earnings per share are expected to range from $0.53 to $0.58. For fiscal 2016, the company is reiterating its full year diluted earnings per share guidance of $3.90 to $4.05 and comparable store sales are now expected to range of negative 4.5% to negative 1.5%.

Gamestop Corp. Approves Quarterly Cash Dividend, Payable on September 22, 2016

GameStop Corp.'s Board of Directors approved a cash dividend to its stockholders. The quarterly dividend of $0.37 per share of Class A Common Stock will be paid on September 22, 2016 to stockholders of record as of the close of business on September 9, 2016.

GameStop Seeks Acquisitions

GameStop Corp. (NYSE:GME) is seeking value accretive business acquisitions. Rob Lloyd, Chief Financial Officer of Gamestop Corporation, said, “Now that we've completed the acquisitions of additional AT&T stores, I wanted to recap our capital allocation strategy and our disciplined approach to returning our excess cash to shareholders. Our capital allocation strategy, which is regularly reviewed with our Board, remains the same. Disciplined investments in the business, including value accretive acquisitions are a priority."

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