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April 18, 2015 1:00 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: 50
Total Annual Compensation: $2.0M
Executive Chairman
Age: 66
Total Annual Compensation: $1.8M
Chief Financial Officer and Executive Vice President
Age: 52
Total Annual Compensation: $1.0M
Chief Operating Officer
Age: 50
Total Annual Compensation: $1.4M
Executive Vice President of Strategic Business & Brand Development
Age: 55
Total Annual Compensation: $844.7K
Compensation as of Fiscal Year 2013.

GameStop Corp. Key Developments

GameStop Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Fiscal Year Ended January 31, 2015; Reports Asset Impairment Charges for the Fourth Quarter of 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2015

GameStop Corp. reported unaudited consolidated earnings results for the fourth quarter and fiscal year ended January 31, 2015. For the quarter, the company reported net sales of $3,476.1 million against $3,683.8 million a year ago. Operating earnings was $385.9 million against $358.4 million a year ago. Earnings before income tax expense were $380.7 million against $356.6 million a year ago. Net income was $244.1 million or $2.23 per diluted share against $220.5 million or $1.89 per diluted share a year ago. Non-GAAP net income was $235.5 million or $2.15 per diluted share against $222.4 million or $1.90 per diluted share a year ago. Consolidated comparable store sales declined 1.8% (a 1.4% decline in the U.S. and a 2.6% decline internationally) due primarily to overlapping the launch of Sony’s PlayStation 4 and Microsoft’s Xbox One in November 2013. Foreign currency exchange rate changes negatively impacted earnings by $5.8 million, or $0.05 per share. For the year, the company reported net sales of $9,296.0 million against $9,039.5 million a year ago. Operating earnings was $618.3 million against $573.5 million a year ago. Earnings before income tax expense were $608.3 million against $568.8 million a year ago. Net income was $393.1 million or $3.47 per diluted share against $354.2 million or $2.99 per diluted share a year ago. Non-GAAP net income was $392.4 million or $3.47 per diluted share against $356.1 million or $3.01 per diluted share a year ago. Full year consolidated comparable store sales increased 3.4% compared to fiscal 2013, primarily driven by better than expected next-generation hardware sales and growth in the pre-owned category. Foreign currency exchange rate changes negatively impacted full year earnings by $6.2 million, or $0.05 per share. For the fourth quarter, the company reported asset impairment charges of $2.2 million against $18.5 million a year ago. For the first quarter of 2015, the company expects total sales of negative 2.0% to positive 1.0%, comparable store sales of 2.5% to 5.5%, depreciation & amortization of $36.0 million to $37.0 million, income tax rate of 36.5% to 37.5%, operating margin of 5.0% to 5.5%, net income of $58.0 million to $65.0 million and diluted earnings per share of $0.53 to $0.60. The company remains committed to driving long-term shareholder value through disciplined capital allocation program consisting of share repurchases and dividends. For fiscal 2015, based on the trends of 2014, specifically related to the decline in previous generation sales, the company is projecting mid-single digit new software sales growth, which is reflected in sales and EPS guidance. Additionally, the company estimates that foreign currency exchange will have a negative impact of approximately $300 to $400 million on sales and $0.06 to $0.09 on full year EPS. Overall, The company expects full year earnings per share growth to range from 3% to 10%. For the full year 2015, the company expects total sales of negative 1.0% to positive 4.0%, comparable store sales of 1.0% to 6.0%, depreciation & amortization of $155.0 million to $160.0 million, income tax rate of 36.5% to 37.5%, operating margin of 6.5% to 7.0%, net income of $392.0 million to $415.0 million, diluted earnings per share of $3.60 to $3.80 and capital expenditures of $150.0 million against $170.0 million.

GameStop Seeks Acquisitions

GameStop Corp. (NYSE:GME) is seeking acquisitions. GameStop will be exploring acquisition and partnership opportunities.

GameStop Corp. to Report Q4, 2015 Results on Mar 26, 2015

GameStop Corp. announced that they will report Q4, 2015 results at 5:00 PM, Eastern Standard Time on Mar 26, 2015

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Recent Private Companies Transactions

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