GameStop Says Demand Hit as Customers Await New Consoles
Retailer GameStop warned of weak sales this year as customers delay purchases ahead of the arrival of next-generation videogame consoles, but it reported stronger-than-expected quarterly results.
The world's largest retailer of videogame products said on Thursday that it expected full-year sales to remain flat or fall by as much as 8 percent, implying revenue of between $8.18 billion and $8.89 billion. Analysts on average expect $8.86 billion, according to Thomson Reuters I/B/E/S.
GameStop's full-year earnings forecast lagged analysts' estimates by a sizable margin.