GameStop Update after Fiscal 2011 Q1
• Total sales increased 9.5% to $2.28 billion from $2.08 billion.
• Total company comparable store sales were 5.3%, driven primarily by strong HD console sales, the Nintendo 3DS launch and a 9.5% growth of pre-owned products.
• Digital sales increased 53% over last year as each digital segment experienced strong growth.
• Net earnings increased 6.9% to $80.4 million, as compared to net earnings of $75.2 million
• Diluted earnings per share increased 16.7% to $0.56, as compared to $0.48.
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Disclaimer: I and account(s) that I manage, have a long position in shares of GameStop at the time of writing this article. My position may change at any time. This is not intended to be used as investment advice or a recommendation to buy /sell shares of any securities discussed in this article. Please do your own research or contact your financial advisor.
