GameStop

GameStop reported increases in global and same-store sales for the nine-week holiday sales period ended Jan. 4, but results missed analysts’ expectations thanks to a greater-than-expected decline in sales of new game titles for Xbox 360 and PlayStation 3.

The holiday saw the launch of major consoles, and multichannel videogame retailer GameStop is looking to capitalize by declaring 2014 to be the “Year of Gaming.”

The retailer is offering select items, including console bundles, games and consumer electronics, on sale hoping to lure gamers who didn’t get everything they wanted during the holiday or are looking to use holiday gift cards. The sale runs from now through Sunday, Jan. 5.

SED International Holdings chairman Sham Gad has assumed the role of CEO at the troubled supply chain management provider and distributor of consumer electronics and small appliances.

Gad fills a role previously held by Mike Hagan who was appointed to the position on an interim basis in October following the resignation of former CEO Robert O’Malley.

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%.