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GameStop Q4 profit plummets 27%, plans fewer stores in 2012
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%.
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Target makes loyalty list
WABAN, Mass. — There most be something to that REDcard Rewards program. Target this week was among the companies with the most loyal customers, according to a new study by Temkin Group. The report, "2012 Temkin Loyalty Ratings," rated the loyalty that consumers have to 206 large companies across 18 industries.
Target with a rating of 59%, ranked No. 8 on the list. Sam's Club earned the top spot with a loyalty rating of 65%.