GameStop Q1 sales decline

Grapevine, Texas — Ahead of releasing its first quarter results, GameStop said earnings for the quarter were 54 cents per share and that same-store sales fell 12.5%. According to the company, this drop in same-store sales is due to light demand for “AAA” game launches and slower-than-expected store traffic during the quarter. The company has reaffirmed its full year earnings per share guidance of $3.10 to $3.30. GameStop will provide second quarter and full year sales guidance in conjunction with its first quarter earnings release and conference call on May 17.