GameStop Corp. 4Q Revenue Up
Grapevine, Texas, GameStop Corp. today said its quarterly revenue rose 13%, to $708.7 million from $625.4 million in the prior year. Net income for the fiscal fourth quarter ended in January fell to $34.5 million, or 64? a share, from $39.6 million, or 67? a share, in the year-ago period. The company attributed the decline in net income to charges related to lease accounting.
The Grapevine, Texas-based video-game retailer said it expects to open 370 to 400 new stores this year, as sales get a boost from demand for Sony’s PlayStation 2 and the PlayStation Portable (PSP) game consoles.