Thursday, March 18, 2010

GameStop Sees Profit Drop, But Predicts Sales Growth In 2010

Grapevine, Texas-based video game retailer GameStop announced its results this morning, saying that its comparable store sales decreased 7.9 percent, and that its net earnings decreased 5.3 percent to $377.3M. However, the firm said it is expecting total sales growth between 4.0 percent and 6.0 percent in fiscal 2010. The firm said it also had its second highest earning year in 2009, as its total sales increased to $9.08 billion, up over the $8.81 billion it had in sales in fiscal 2008.