GameStop Beats Analysts Estimates, Gives Optimistic 2010 Forecast
March 19, 2010 /EIN PRESSWIRE/ GameStop, the world's biggest stand-alone retailer of video games, reported Q4 earnings that were a shade higher than analysts estimated and expressed optimism for increased earnings in 2010.
Despite a 7.1% drop in net sales in Q4 blamed on a slumbering economy, a shortage of consoles and holiday hit games, GameStop shares rose 6% Thursday after its announcement. The company said it plans to open 400 new stores this year and close 100 and expects sales to increase by up to 6% in 2010.
The company also announced plans to launch a new royalty program, which will be test-marketed in four US markets.
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GameStop news - http://videogames.einnews.com/news/gamestop-games
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