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GameStop Q4 profit up
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%.
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Fred’s Q4 profits down; to accelerate pharmacy expansion
Memphis -- Fred's Inc. said Thursday that its fourth-quarter net income decreased 33% amid higher operating costs and restrained consumer spending. The discounter’s forecast for this year also fell below analyst expectations.
Net income for the three months ended Feb. 2 fell to $6.6 million, compared to $9.8 million the year before.
Revenue increased 7%, to $533.4 million, also below analysts’ expectations. Same-store sales were up 4.8%.