Content about GameStop

March 28, 2013

GameStop Corp reported a nearly 50% increase rise in fourth-quarter profit fueled by gains in its mobile and digital businesses.

Grapevine, Texas -- GameStop Corp reported a nearly 50% increase rise in fourth-quarter profit fueled by gains in its mobile and digital businesses. Profit rose to $261.1 million from $174.7 million.

Revenue for the quarter ended Feb. 2, 2013, totaled $3.56 billion compared to $3.58 billion last year. Same-store sales were down 4.6%.

November 15, 2012

GameStop plans to close 200 stores by next year, Bloomberg reported.

New York -- GameStop plans to close 200 stores by next year, Bloomberg reported.

The closings were announced on a conference call, shortly after the chain reported better-than expected third-quarter results, excluding an impairment charge.

For the third quarter ended Oct. 27, GameStop posted a net loss of $624.3 million after impairment and goodwill costs of $678.8 million, mostly tied to international operations. That’s compared with net income of $53.9 million a year earlier.

November 15, 2012

GameStop plans to close 200 stores by next year, Bloomberg reported.

New York -- GameStop plans to close 200 stores by next year, Bloomberg reported.

The closings were announced on a conference call, shortly after the chain reported better-than expected third-quarter results, excluding an impairment charge.

For the third quarter ended Oct. 27, GameStop posted a net loss of $624.3 million after impairment and goodwill costs of $678.8 million, mostly tied to international operations. That’s compared with net income of $53.9 million a year earlier.

October 26, 2012

GameStop Corp. announced it has unveiled a new store concept called GameStop Kids and will open 80 holiday stores in U.S. malls.

Grapevine, Texas -- GameStop Corp. announced Friday it has unveiled a new store concept called GameStop Kids and will open 80 holiday stores in U.S. malls.

GameStop Kids stores will feature an assortment of the most popular video games and accessories, toy brands and collectibles, showcased in temporary mall spaces.

The first GameStop Kids location opened Friday at the Grapevine Mills Mall in Grapevine, Texas, with all other locations opening in the coming days and weeks, according to the company.

May 18, 2012

GameStop said that net income for the quarter ended April 28 slid to $72.5 million, from $80.4 million in the same period last year, negatively impacted by weakened demand in the video game market.

Grapevine, Texas -- GameStop said Thursday that net income for the quarter ended April 28 slid to $72.5 million, from $80.4 million in the same period last year, negatively impacted by weakened demand in the video game market.

Sales for the quarter declined 12.2% to $2 billion, compared with $2.28 billion in the prior year quarter. As previously announced, same-store sales dropped 12.5%.
 

May 18, 2012

GameStop said that net income for the quarter ended April 28 slid to $72.5 million, from $80.4 million in the same period last year, negatively impacted by weakened demand in the video game market.

Grapevine, Texas -- GameStop said Thursday that net income for the quarter ended April 28 slid to $72.5 million, from $80.4 million in the same period last year, negatively impacted by weakened demand in the video game market.

Sales for the quarter declined 12.2% to $2 billion, compared with $2.28 billion in the prior year quarter. As previously announced, same-store sales dropped 12.5%.
 

May 11, 2012

Ahead of releasing its first quarter results, GameStop said earnings for the quarter were 54 cents per share and that same-store sales fell 12.5%.

Grapevine, Texas — Ahead of releasing its first quarter results, GameStop said earnings for the quarter were 54 cents per share and that same-store sales fell 12.5%. According to the company, this drop in same-store sales is due to light demand for “AAA” game launches and slower-than-expected store traffic during the quarter.

The company has reaffirmed its full year earnings per share guidance of $3.10 to $3.30.

May 11, 2012

Ahead of releasing its first quarter results, GameStop said earnings for the quarter were 54 cents per share and that same-store sales fell 12.5%.

Grapevine, Texas — Ahead of releasing its first quarter results, GameStop said earnings for the quarter were 54 cents per share and that same-store sales fell 12.5%. According to the company, this drop in same-store sales is due to light demand for “AAA” game launches and slower-than-expected store traffic during the quarter.

The company has reaffirmed its full year earnings per share guidance of $3.10 to $3.30.

May 4, 2012

In recent years, specialty retailer GameStop Corp. has been among the fastest-growing global chains, opening 388 new stores in 2009, more than 350 in 2010 and 285 new locations last year. For its current fiscal year, GameStop is ramping down organic growth, anticipating the opening of some 150 stores, in deference to building on its dominant presence in the multichannel PC digital download market.

March 22, 2012

Video-game retailer GameStop Corp. reported that profit for the quarter ended Jan. 28 dropped 27% to $174.7 million, from $237.8 million in the year-ago period.

Grapevine, Texas -- Video-game retailer GameStop Corp. reported Thursday that profit for the quarter ended Jan. 28 dropped 27% to $174.7 million, from $237.8 million in the year-ago period. Adjusted profit, however, matched predictions, as results included $64.6 million in asset impairment and restructuring charges.

Revenue fell 3.1% to $3.58 billion from $3.69 billion, missing Wall Street’s expected $3.69 billion in revenue. Same-store sales slipped 3.6%.

January 9, 2012

GameStop Corp. reported nearly flat sales for the nine-week holiday period that ended on Dec. 31.

Grapevine, Texas -- GameStop Corp. on Monday reported nearly flat sales for the nine-week holiday period that ended on Dec. 31. Total sales were $3.02 million, or about the same as last year. Same-store sales slipped 0.3%.

October 18, 2011

Hancock Fabrics said its interim president and CEO Steven Morgan has been named the company’s permanent chief, and he will also continue to serve as a member of the company’s board of directors.

Baldwyn, Miss. -- Hancock Fabrics said Monday that its interim president and CEO Steven Morgan has been named the company’s permanent chief, and he will also continue to serve as a member of the company’s board of directors.

Morgan, formerly president of GameStop, was appointed as interim president and CEO of Hancock Fabrics in January 2011.
 

August 22, 2011

The annual State of the Industry Report takes the spotlight in this issue of Chain Store Age, and it makes for some terrific — and illuminating — reading. It’s chock full of great insights and fascinating updates from around the globe. 


August 18, 2011

GameStop Corp. reported Thursday that net income for the quarter ended July 30 dropped 23% to $30.9 million, compared with $40.3 million in the year-ago period.

Grapevine, Texas -- GameStop Corp. reported Thursday that net income for the quarter ended July 30 dropped 23% to $30.9 million, compared with $40.3 million in the year-ago period. The company cited slowing video game sales for the lackluster performance.

Revenue fell 3% to $1.74 billion, missing expectations, and same-store sales dropped 9.1%.
 

May 19, 2011

GameStop Corp. reported Thursday that fiscal first-quarter profit rose 6.9% to $80.4 million, compared with $75.2 million a year earlier.

Grapevine, Texas -- GameStop Corp. reported Thursday that fiscal first-quarter profit rose 6.9% to $80.4 million, compared with $75.2 million a year earlier.

Overall sales rose 9.5% to $2.28 billion, while same-store sales increased 5.3%.

April 7, 2011

GameStop Corp. has selected Adgregate Markets, a leader in secure social commerce solutions, to provide social shopping on its Facebook page through Adgregate’s proprietary ShopFans solution.

Grapevine, Texas -- GameStop Corp. has selected Adgregate Markets, a leader in secure social commerce solutions, to provide social shopping on its Facebook page through Adgregate’s proprietary ShopFans solution.

GameStop is the first multichannel gaming company to launch a storefront on Facebook and provide true social commerce to more than 1.8 million Facebook fans.

April 1, 2011

GameStop Corp. announced the acquisition of Spawn Labs, a streaming technology company.

Grapevine, Texas -- GameStop Corp. announced the acquisition of Spawn Labs, a streaming technology company.

In addition, GameStop announced it has entered into an agreement to purchase Impulse, a subsidiary of Stardock Systems, and a leader in digital distribution. The Impulse acquisition is subject to customary closing conditions and is expected to close in May.

March 28, 2011

A 400,000-sq.-ft., Wal-Mart Supercenter- and Lowe’s-anchored, regional shopping center opened on March 15 in Hamburg, Pa.

A 400,000-sq.-ft., Wal-Mart Supercenter- and Lowe’s-anchored, regional shopping center opened on March 15 in Hamburg, Pa.

Tilden Ridge Shopping Center, owned by West Conshohocken, Pa.-based Ironwood Property Group and leased by Metro Commercial Real Estate, was almost six years in the making, and features a site that shares a traffic signal with a 250,000-sq.-ft. Cabela’s store.

March 24, 2011

GameStop Corp. reported Thursday that net earnings for the quarter ended Jan. 29 rose 10.1% to $237.8 million, compared with $215.9 million in the year-ago period.

Grapevine, Texas -- GameStop Corp. reported Thursday that net earnings for the quarter ended Jan. 29 rose 10.1% to $237.8 million, compared with $215.9 million in the year-ago period.

Total sales increased 4.8% to $3.69 billion, from $3.52 billion. Same-store sales increased 2.6%.

For the year, total sales increased 4.3% to an all-time high of $9.47 billion, in comparison to $9.08 billion in fiscal 2009. Same-store sales increased 1.1%. Net earnings increased 8.1% to a record $408 million.

February 4, 2011

GameStop Corp. said Friday its board has approved buying back up to $500 million worth of the company's stock and bonds over the next 18 months.

Grapevine, Texas -- GameStop Corp. said Friday its board has approved buying back up to $500 million worth of the company's stock and bonds over the next 18 months.

The retailer said the new $500 million allotment will replace a previous $300 million already set aside for buybacks, of which $138.4 million was left to spend. Stock buybacks reduce the number of outstanding shares, which boosts per-share earnings and expands the size if current shareholders' stakes.

January 18, 2011

Purchase, N.Y.-based National Realty & Development Corp. said that GameStop, Great Clips and Go Wireless have opened at the newly renovated CooperTowne Center.

Somerdale, N.J. -- Purchase, N.Y.-based National Realty & Development Corp. said that GameStop, Great Clips and Go Wireless have opened at the newly renovated CooperTowne Center.

Reopened in October 2010, CooperTowne Center is a 385,000-sq.-ft. Greyfields Redevelopment that revitalized the former Lions Head Plaza in Somerdale, N.J. The shopping center is anchored by Walmart Supercenter, a Cinemark 16-screen theater, and a LA Fitness.

November 18, 2010

GameStop Corp. reported Thursday that net earnings for the third quarter increased 4.8% to $54.7 million, from $52.2 million in the prior year quarter.

Grapevine, Texas -- GameStop Corp. reported Thursday that net earnings for the third quarter increased 4.8% to $54.7 million, from $52.2 million in the prior year quarter.

Total sales increased 3.5% to $1.90 billion.

U.S. segment same-store sales were 5.3%, while total company same-store sales increased 1.1%.

Year-to-date, GameStop has opened 156 net new stores: 89 in the United States; 47 in Europe; eight in Canada; and 12 in Australia/New Zealand. The video game retailer currently operates 6,606 stores in 17 countries.

October 24, 2010

City officials said that portions of Westfield Galleria at Roseville, which burned on Thursday after...

September 15, 2010

GameStop Corp. said late Wednesday that it will buy back $300 million of its stock...

September 15, 2010

GameStop Corp. said late Wednesday that it will buy back $300 million of its stock...