(Updated - April 2, 2019 4:12 PM EDT)

GameStop (NYSE: GME) reported Q4 EPS of $1.45, $0.13 worse than the analyst estimate of $1.58. Revenue for the quarter came in at $3.06 billion versus the consensus estimate of $3.28 billion.

• Concludes Review of Strategic and Financial Alternatives

2019 Outlook

As a result of the strategic and financial alternatives review conducted in fiscal 2018, the company announced that it is embarking on a cost savings and profit improvement initiative designed to strengthen the organization for the future and support long-term improved financial performance and profitability. These initiatives include supply chain efficiencies, operational improvements, expense savings and pricing and promotion optimization. Based on initial estimates, which are preliminary and could change as the program is implemented throughout the year, the company is working to achieve annualized operating profit improvements of approximately $100 million. Given the timing of the program, the company expects minimal impact on fiscal 2019 results.

Given the planned cost savings and profit improvement initiative and the announcement of a new CEO starting on April 15, 2019, the company is not providing annual earnings per share guidance at this time. However, the company expects first quarter earnings of breakeven to a loss of $0.05 per share, consistent with the seasonally slower first half of the fiscal year, and is providing full year sales and tax guidance as follows:

• FY 2019 Total Sales (calculated using sales from continuing operations) -5% to -10%
• FY 2019 Comparable Store Sales -5% to -10%

(Consensus calls for Q1 EPS of 18 cents)

For earnings history and earnings-related data on GameStop (GME) click here.