GameStop warns on fourth-quarter amid supply issues
Thu Jan 6, 2005 04:22 PM ET
CHICAGO, Jan 6 (Reuters) - Video game retailer GameStop Corp. (GME.N: Quote, Profile, Research) on Thursday warned that December sales fell below expectations due to supply shortages and it lowered its fourth-quarter earnings and sales view.
The company expects fourth-quarter earnings per share of 68 cents to 70 cents a share, below a prior view of 81 cents to to 84 cents a share.
GameStop is forecasting comparable store sales to range from flat to up 1 percent in the period, below its prior estimate for sales to rise 6 percent to 9 percent.
"While we were frustrated by the supply shortfall, we view this as a temporary problem, as we know that our hardware manufacturers will aggressively work to expand the user base that is so obviously ready to purchase the product," the company said in a statement.
http://yahoo.reuters.com/financeQuo...=mtfh83543_2005-01-06_21-22-40_wen2217_newsml
Thu Jan 6, 2005 04:22 PM ET
CHICAGO, Jan 6 (Reuters) - Video game retailer GameStop Corp. (GME.N: Quote, Profile, Research) on Thursday warned that December sales fell below expectations due to supply shortages and it lowered its fourth-quarter earnings and sales view.
The company expects fourth-quarter earnings per share of 68 cents to 70 cents a share, below a prior view of 81 cents to to 84 cents a share.
GameStop is forecasting comparable store sales to range from flat to up 1 percent in the period, below its prior estimate for sales to rise 6 percent to 9 percent.
"While we were frustrated by the supply shortfall, we view this as a temporary problem, as we know that our hardware manufacturers will aggressively work to expand the user base that is so obviously ready to purchase the product," the company said in a statement.
http://yahoo.reuters.com/financeQuo...=mtfh83543_2005-01-06_21-22-40_wen2217_newsml