GameStop (GME) FY12 Holiday Sales Fell 4.6%; Narrows Comps Outlook
Tweet Send to a Friend
Get Alerts GME Hot Sheet
Price: $39.76 +4.49%
Revenue Growth %: -0.6%
Financial Fact:
Basic net income per common share: 2.23
Today's EPS Names:
LBIX, ESEA, ISS, More
Revenue Growth %: -0.6%
Financial Fact:
Basic net income per common share: 2.23
Today's EPS Names:
LBIX, ESEA, ISS, More
Trade GME Now!
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- J.C. Penney Co., Inc. (JCP) Posts Q1 Loss of $1.31/Share; Comps Down 16.6%
- Stage Stores, Inc. (SSI) Posts Surprise Q1 Loss of 2c/Share
- GigaMedia (GIGM) Prelim Q1 Results Flat w/ Expectations
Create E-mail Alert Related Categories
Guidance, Hot Corp. News, Retail Sales
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
