GameStop

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. 

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.

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.

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%.

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%.

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 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%.
 

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%.

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.