GameStop (GME) FY12 Holiday Sales Fell 4.6%; Narrows Comps Outlook
Tweet
Share
E-mail
Get Alerts GME Hot Sheet
Price: $18.21 +0.94%
EPS Growth %: -24.0%
Financial Fact:
Interest expense: 14.8M
Today's EPS Names:
BTTX, VAXX, ELYS, More
EPS Growth %: -24.0%
Financial Fact:
Interest expense: 14.8M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BJ's Wholesale Club (BJ) Tops Q2 EPS by 19c, Beats on Revenue; Offers FY27 EPS Guidance
- Nordson Corp. (NDSN) Tops Q3 EPS by 16c; Offers Guidance
- Lowe's Cos. (LOW) Tops Q2 EPS by 17c, Misses on Revenue; Offers Fy27 Guidance
Create E-mail Alert Related Categories
Guidance, Hot Corp. News, Retail SalesSign 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!
