GameStop raises 4Q guidance

GRAPEVINE, Texas GameStop announced that it is narrowing its previously announced fourth quarter 2008 diluted earnings per share guidance to the high-end of the previous range. EPS is now expected to range from $1.33 to $1.34, a +17% to +18% increase over the prior year quarter.

For the first time in the company’s history, quarterly sales exceeded $3 billion. Total sales were $3.5 billion, a 22% increase over the prior year quarter, with comparable store sales increasing +9.6%.

Full year 2008 diluted earnings per share is now expected to range from $2.39 to $2.40, an increase of +33% over the prior year. Full year sales increased 24% to $8.8 billion, in comparison to $7.1 billion in fiscal 2007. Comparable-store sales increased +12.3% for the full year.