GameStop Reaffirms Earlier Guidance On Financials
MOD NEWS posted on 20 APR 2009 by Jim Zabek
GameStop appears confident that its earlier statements regarding Q1 and full year 2009 financials were on target.
GameStop Corp. (NYSE: GME), the world’s largest video game and entertainment software retailer, today provided a financial update on its first quarter and fiscal year 2009.
Based on current retail trends and the strong sell-thru of new video games released in February and March, such as Capcom’s Street Fighter IV and Resident Evil 5, Microsoft’s Halo Wars, Sony’s Killzone 2, along with an exceptional launch of Nintendo DSi, GameStop is reaffirming its first quarter comparable store sales guidance of flat to +2% and earnings per share guidance of $0.40 to $0.42. Full year comparable store sales guidance remains +4% to +6% and full year earnings guidance is still expected to increase between +18% and +22%.
Note that guidance does not include debt retirement costs or merger related expenses.
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