Key Developments: GameStop Corp (GME.N)

GME.N on New York Stock Exchange

40.21USD
24 Apr 2014
Price Change (% chg)

$0.30 (+0.75%)
Prev Close
$39.91
Open
$40.03
Day's High
$40.58
Day's Low
$39.47
Volume
520,359
Avg. Vol
699,887
52-wk High
$57.74
52-wk Low
$30.95

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Latest Key Developments (Source: Significant Developments)

GameStop Corp gives Q1 2014 earnings guidance above analysts' estimates and FY 2014 EPS guidance below analysts' estimates
Thursday, 27 Mar 2014 08:30am EDT 

GameStop Corp:Expects Q1 2014 total sales of 7.0% to 10.0% and FY 2014 sales of 8.0% to 14.0%.Expects Q1 comparable store sales growth of 5.0% to 8.0%.Expects FY 2014 comparable store sales growth of 6.0% to 12.0%.Expects Q1 net income of $64.0-$70.0 mln and EPS of $0.55 to $0.60.Expects 2014 net income of $398.0-$433.0 mln and EPS of $3.40 to $3.70.Company reported revenue of $9.04 bln in fiscal 2013.Q1 2014 Revenue of $2.038 bln, net income of $62.3 mln and EPS of $0.53 - Thomson Reuters I/B/E/S.Q1 2014 Revenue of $9.848 bln, net income of $417.16 mln and EPS of $3.76 - Thomson Reuters I/B/E/S.  Full Article

GameStop Corp increases annual cash dividend
Tuesday, 4 Mar 2014 04:00pm EST 

GameStop Corp:Approved a 20 pct increase of its regular annual cash dividend from $1.10 to $1.32 per share.Payable on March 25 to all shareholders of record as of March 17.  Full Article

GameStop Corp updates on Q4 and FY 2013 same store sales guidance; lowers Q4 2013 EPS guidance; lowers FY 2013 EPS guidance
Tuesday, 14 Jan 2014 08:30am EST 

GameStop Corp:Expects its Q4 and FY 2013 same store sales to be at the high end of the current guidance range.Q4 2013 earnings per share to be in a range of $1.85 to $1.95.FY 2013 earnings per share to be in a range of $2.96 to $3.06.Q4 2013 EPS of $2.16 - Thomson Reuters I/B/E/S Estimates.FY 2013 net income of $3.28 - Thomson Reuters I/B/E/S Estimates.  Full Article

GameStop Corp Declares Quarterly Cash Dividend; Approves New $500 Million Share Repurchase Plan
Thursday, 21 Nov 2013 08:30am EST 

GameStop Corp announced that its Board of Directors declared a quarterly cash dividend of $0.275 per common share payable on December 19, 2013 to shareholders of record at the close of business on December 4, 2013. The Company also announced that its board of directors has approved a new $500 million share repurchase plan, replacing the remaining $217 million available on the existing authorization.  Full Article

GameStop Corp Issues Q4 2013 EPS Guidance Below Analysts' Estimates; Comments On Q4 2013 Comparable Store Sales Guidance; Raises FY 2013 EPS And Comparable Store Sales Guidance
Thursday, 21 Nov 2013 08:30am EST 

GameStop Corp announced that for fourth quarter of 2013, it expects comparable store sales to range from +2.0% to +9.0% and diluted earnings per share (EPS) to range from $1.97 to $2.14. For fiscal 2013, it expects diluted EPS to range from $3.08 to $3.25 and comparable store sales to range from +1.5% to +4.5%. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $2.15 for fourth quarter of 2013; EPS of $3.23 for fiscal 2013.  Full Article

GameStop Corp Announces Chairman Change - Form 8-K
Friday, 15 Nov 2013 05:06pm EST 

GameStop Corp reported in its Form 8-K that on November 13, 2013, GameStop Corp. (Company) and J. Paul Raines amended Mr. Raines’ Executive Employment Agreement. The Revised Agreement reflects the intention of the Company’s Board of Directors to cause Mr. Raines to succeed Daniel A. DeMatteo as Chairman of the Board, upon the eventual cessation of Mr. DeMatteo’s service in that role. If, upon cessation of Mr. DeMatteo’s service as Chairman of the Board, Mr. Raines is not afforded the opportunity to assume that role (in addition to the role of Chief Executive Officer), Mr. Raines will then have the right to resign from employment and collect severance benefits under the Revised Agreement.  Full Article

GameStop Corp Issues Q3 2013 EPS Guidance Above Analysts' Estimates; Comments On Q3 2013 Same Store Sales Guidance; Raises FY 2013 EPS And Comparable Store Sales Guidance-Conference Call
Thursday, 22 Aug 2013 11:00am EDT 

GameStop Corp announced that for the third quarter of 2013, it forecasting positive same-store sales, ranging from plus 11% to plus 15% and expect diluted earnings per share(EPS) to range from $0.50 to $0.55. For the fiscal 2013, it increasing comparable store sales guidance from negative 5% to plus 1%, to range from down 3.5% to up 1.5% and also revising fiscal 2013 EPS guidance of $2.90 to $3.15, to a new range of $3 to $3.20 using weighted average fully diluted shares outstanding of 120.5 million. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.41for third quarter of 2013; EPS of $3.17 for fiscal 2013.  Full Article

GameStop Corp Declares Quarterly Cash Dividend
Thursday, 22 Aug 2013 08:30am EDT 

GameStop Corp announced that the board of directors have declared a quarterly cash dividend of $0.275 per common share payable on September 19, 2013 to shareholders of record at the close of business on September 3, 2013.  Full Article

GameStop Corp Announces Auditor Change-Form 8-K
Friday, 19 Jul 2013 04:53pm EDT 

GameStop Corp reported in its Form 8-K that the Audit Committee of the Board of Directors of GameStop Corp. (Audit Committee) conducted a comprehensive, competitive process to select the independent registered public accounting firm for GameStop Corp.’s (Company’s) fiscal year ending February 1, 2014. The Audit Committee invited four national accounting firms to participate in this process, including BDO USA LLP (BDO), the Company’s prior independent registered public accounting firm. As a result of this process and following careful deliberation, on July 17, 2013, the Audit Committee engaged Deloitte & Touche LLP (Deloitte) as the Company’s independent registered public accounting firm for the Company’s fiscal year ending February 1, 2014 to replace BDO.  Full Article

GameStop Corp Issues Q2 2013 EPS Outlook; Comments On Q2 2013 Store Sales Outlook; Raises Low End Of Prior FY 2013 EPS Outlook; Raises Low End Of Prior FY 2013 Comparable Store Sales Outlook
Thursday, 23 May 2013 08:30am EDT 

GameStop Corp announced that for second quarter of 2013, it expects comparable store sales to range from -16.0% to -12.5%, diluted earnings per share are expected to range from $0.01 to $0.07. The Company is increasing the lower end of its previously announced fiscal 2013 diluted earnings per share guidance range of $2.75 to $3.15 and now expects $2.90 to $3.15. The previous full year comparable store sales range of -6.0% to +1.5% is being narrowed to -5.0% to +1.5%. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.06 for second quarter of 2013; EPS of $3.08 for fiscal 2013.  Full Article

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GameStop shares fall as 2014 forecast disappoints

- Video game retailer GameStop Corp on Thursday forecast full-year earnings below market expectations as it is yet to see an uptick in sagging video game software sales, despite robust hardware sales driven by the launches of Microsoft's Xbox One and Sony's PlayStation 4 consoles.

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