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GameStop (GME) FY12 Holiday Sales Fell 4.6%; Narrows Comps Outlook

January 8, 2013 8:37 AM EST Send to a Friend
GameStop Corp. (NYSE: GME) reported sales results for the nine-week holiday period ended Dec. 29, 2012.

Total global sales for the period were $2.88 billion, a 4.6% decrease compared to the 2011 holiday sales period. Total comparable store sales decreased 4.4%, with U.S. comps of -3.5% and international comps of -6.4%. Based on the holiday sales results, GameStop is narrowing its comparable store sales range for the fourth quarter to -7.0% to -4.0% and the full year to -9.0% to -7.5%.

For the holiday period, new hardware sales decreased 2.7%, including the sale of 320,000 Nintendo Wii U units worldwide. Sales of new video game software decreased 5.1% as frontline title releases could not offset a decline in overall store traffic. The pre-owned category declined 15.6% as limited inventory due to fewer new titles released throughout 2012 and less promotional activity negatively impacted sales compared to last year.

Digital receipts increased more than 40.0%, while sales in the mobile business were $76.5 million during the holiday period and have exceeded $160 million year-to-date. Additionally, global e-commerce sales improved 20.5% compared to the 2011 holiday period.




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