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GameStop profit rises 10% in Q4, to open and close 200 stores
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.
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Best Buy Q4 profit declines, adjusted results beat Street
Minneapolis -- Best Buy Co. reported Thursday that net income for the quarter ended Feb. 26 fell 16% to $651 million, compared with $779 million in the year-ago period. However, adjusted results beat Wall Street expectations.
The retailer cited restructuring costs and weak TV and other electronics sales for the performance decline.