GameStop stands by Q3 profit outlook, shares rise

NEW YORK (Reuters) - Video game retailer GameStop Corp (GME.N) kept its outlook for the quarter ending in October unchanged, even as analysts suggest that industry sales overall fell in that month.

GameStop expects its earnings per share to be between 27 cents and 33 cents, excluding debt retirement costs. It also sees sales at stores open more than one year to be down 6 percent to 11 percent.

The results are likely to reflect the recent up and downs of the U.S. video game software industry. Retail sales slumped for six consecutive months before improving in September, following long-awaited cuts to game console prices.

October sales are expected to show a decline, according to Wedbush analyst Michael Pachter, who forecasts a 9 percent decline in sales to $635 million.

GameStop, which sells from Sony Corp's (6758.T) PlayStation 3 console as well as Nintendo's (7974.OS) Wii and Microsoft's (MSFT.O) Xbox 360, says it will report its complete third quarter results on November 19.

Shares of GameStop rose about 1.4 percent to $25.86 in morning trading on the New York Stock Exchange.

(Reporting by Franklin Paul; Editing by Derek Caney)