Video game and entertainment software retailer GameStop Corp. (GME) will publicize second-quarter results before the market opens on August 20, with analysts estimating earnings of $0.29 per share, on revenues of $1.77 billion. For the second-quarter ended August 2, 2008, the company posted earnings of $0.34 per share on sales of $1.80 billion.
With over 6,100 stores located throughout the United States and 17 countries, GameStop is the world's largest video game retailer. The company sells its products through its GameStop, EB Games and Electronics Boutique trade name stores, and websites, including GameStop.com and EBgames.com, as well as 'Game Informer' video game magazine. GameStop is also seen pricing its video games at a consistent price of $59.99 per title.
In mid-May, the Fortune 500 company said it projects second-quarter earnings to range between $0.28 and $0.33 per share. Comparable store sales are expected to decline 8% - 11%.
GameStop continues to anticipate fiscal 2009 earnings in the range of $2.83 - $2.93 per share, representing 18% - 22% increase from last year. The Street is looking for full-year 2009 earnings of $2.77 per share. Comparable store sales for the year are now expected to be between flat and an increase of 2%. GameStop earlier projected comparable store sales to increase 4% - 6%. Comparable store sales for fiscal 2008 increased 12.3%.
For the preceding first quarter, the Grapevine, Texas-based and S&P 500 company posted net earnings of $70.43 million or $0.42 per share, up 13.5% from $62.13 million or $0.37 per share in the prior-year quarter, boosted by strong sales of Nintendo DSi handheld system, and sell-thru of new video games that bucked the economic slowdown. Total sales for the quarter increased 9.2% to $1.98 billion from $1.81 billion in the same quarter of last year.
Among GameStop's rivals, electronics retailer Best Buy Co. Inc. (BBY) reported first-quarter net income of $153 million or $0.36 per share, down from $179 million or $0.43 per share a year ago, hurt mainly by restructuring charges. However, revenues rose 12% to $10.10 billion from $8.99 billion in the prior-year quarter.
Another peer, Online retailer Amazon.com Inc. (AMZN) said its second-quarter profit declined to $142 million or $0.32 per share, compared to $158 million or $0.37 per share in the year-earlier period, hurt by a settlement with Toysrus.com. Meanwhile, second-quarter net sales increased 14% to $4.65 billion from $4.06 billion in the second quarter of last year. GameStop shares, which have been trading between $16.91 and $46.36 in the past 52 weeks, closed Wednesday's trading session at $25.18, up 64 cents or 2.61%, on a volume of 6.58 million shares.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.