GameStop

GRAPEVINE, Texas — Lower in-store traffic at GameStop during the holiday resulted in a decline in same-store sales during the first nine weeks of the company’s fourth quarter.

Total global sales for the nine-week period ended December 29 decreased 4.6%, compared to com 2011 holiday sales period. Comparable store sales decreased 4.4%, with U.S. comps of -3.5% and international comps of -6.4%.

GRAPEVINE, Texas — GameStop as formed The Gamer Fund to provide temporary relief and meet the basic needs of GameStop associates who are facing hardships from tragic and isolated events. Endowed with seed donations from GameStop’s founders and senior management team, The Gamer Fund will be fully run and funded by GameStop associates.

GRAPEVINE, Texas — GameStop customers outside of the United States will soon have access to the PlayStation Network's downloadable content from Sony Computer Entertainment Europe. This digital option will be available at more than 1,600 store locations in Australia, New Zealand, France, Italy, Spain, Germany, Austria and Switzerland. Customers in those countries will have the ability to purchase DLC with any form of payment including trade credits, gift cards and cash.

GRAPEVINE, Texas — Decreased demand for new video game hardware and software contributed to GameStop's 12.2% sales decline in global sales during the first quarter of 2012. Total global sales for the first quarter of 2012 were $2 billion compared with $2.28 billion in the prior year quarter, a decrease of 12.2%. As announced last week, consolidated comparable-store sales decreased 12.5% compared to the prior year quarter.

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. 

BALDWYN, Miss. — Hancock Fabrics hass announced that its board of directors has appointed Steven Morgan, the current interim president and CEO and member of the company’s board of directors, to serve as president and CEO, effective immediately. Morgan will continue to serve as a member of the Company’s board of directors.

GRAPEVINE, Texas -- GameStop has acquired 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.