GameStop profit rises 10% in Q4, to open and close 200 stores

Grapevine, Texas -- GameStop Corp. reported Thursday that net earnings for the quarter ended Jan. 29 rose 10.1% to $237.8 million, compared with $215.9 million in the year-ago period. Total sales increased 4.8% to $3.69 billion, from $3.52 billion. Same-store sales increased 2.6%. For the year, total sales increased 4.3% to an all-time high of $9.47 billion, in comparison to $9.08 billion in fiscal 2009. Same-store sales increased 1.1%. Net earnings increased 8.1% to a record $408 million. For 2011, in the United States, GameStop said it expects to open approximately 200 new stores, focusing on underserviced markets. The