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05/10/2012

GameStop re-iterates first-quarter earnings guidance, says same-store sales off 12.5%

Update: Retail Metrics estimated GameStop's same-store sales would be off 2.9 percent, according to Bloomberg News. Analysts' consensus estimate for GameStop's quarterly earnings is 53 cents per share, and it's $3.21 for the full year, according to Bloomberg data.

GameStop, the Grapevine video game retailer, said late Thursday it was confirming its 2012 first-quarter and full-year earnings guidance.

The company said its first-quarter earnings would be 54 cents per share of common stock, and its same-store sales - those open at least a year, an industry benchmark - would be off 12.5 percent.

The company re-iterated its full-year earnings guidance of $3.10 to $3.30 per share.

"The company is outperforming the market in new video game product sales," GameStop said. "However, first quarter same store sales results reflect light demand for AAA game launches and slower than expected store traffic during the quarter."

GameStop is scheduled to release its quarterly results May 17.

- Scott Nishimura

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