GameStop posts third quarter loss of USD 2.5 million

Vikingod · Nov 30, 2005, 09:33 PM

US retailer GameStop has published third quarter financial results which show a net loss of USD 2.5 million in a report which also expresses concerns about Xbox 360 Christmas stock allocations.

The loss is in line with what was expected, despite the fact that GameStop made a profit of USD 12 million during the same period in 2004. Diluted loss per share stood at USD 0.04, including merger costs of USD 0.19 and hurricane losses and disaster relief of USD 0.01 per diluted share.

GameStop paid USD 1.44 billion in stock and cash to acquire GameStop earlier this year, and also handed over USD 18.8 million in merger costs which contributed to the loss. The company also reported a 12 per cent drop in "comparable store sales" - stores that have been open for more than 12 months - and blamed this on a lack of major software releases.
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Read More / Source: GamesIndustry

Tipstaff · Nov 30, 2005, 10:49 PM

Quote:

Originally Posted by Vikingod

GameStop paid USD 1.44 billion in stock and cash to acquire GameStop earlier this year...

Ah.. oops. Minor quible, but I think someone should let GamesIndustry know it was Electonics Boutique that GameStop bought, and not themselves.

Nov 30, 2005, 09:33 PM	#1
Vikingod Int'l Fish Liaison Join Date: Jul 2004 Location: By the light of lamp I sit and type... Posts: 16,197 Rep Power: 112 System Specs	GameStop posts third quarter loss of USD 2.5 million US retailer GameStop has published third quarter financial results which show a net loss of USD 2.5 million in a report which also expresses concerns about Xbox 360 Christmas stock allocations. The loss is in line with what was expected, despite the fact that GameStop made a profit of USD 12 million during the same period in 2004. Diluted loss per share stood at USD 0.04, including merger costs of USD 0.19 and hurricane losses and disaster relief of USD 0.01 per diluted share. GameStop paid USD 1.44 billion in stock and cash to acquire GameStop earlier this year, and also handed over USD 18.8 million in merger costs which contributed to the loss. The company also reported a 12 per cent drop in "comparable store sales" - stores that have been open for more than 12 months - and blamed this on a lack of major software releases. __________ Read More / Source: GamesIndustry