GameStop releases early comps, results not good
GRAPEVINE, Texas — Ahead of releasing its first quarter results, GameStop said earnings for the quarter were 54 cents per share and that same-store sales fell 12.5%. According to the company, this drop in same-store sales is due to light demand for “AAA” game launches and slower than expected store traffic during the quarter.
The company has reaffirmed its full year earnings per share guidance of $3.10 to $3.30.
GameStop will provide second quarter and full year sales guidance in conjunction with its first quarter earnings release and conference call on Thursday, May 17, 2012.