NEW YORK, March 18 (Reuters) - Video game retailer GameStop Corp posted a 7 percent decline in quarterly profit, hurt by slower consumer demand during the holiday season, but expects its sales and profit to rebound in 2010.
The world's largest standalone retailer of video game software, consoles and accessories, said its fourth quarter profit was $215.9 million, or $1.29 a share, compared to $232.3 million, or $1.39, in the same period a year ago.
Revenue rose to $3.52 billion from $3.49 billion a year ago, despite a 7.9 percent decline in comparable store sales.
Analysts had expected a profit of $1.28 a share, on revenue of $3.44 billion, according to Thomson Reuters I/B/E/S.
The company in January warned of the disappointing results, due to the weak economy, bad weather and product shortages. At that time, analysts had expected a fourth quarter profit of $1.57 a share.
(Reporting by Franklin Paul; Editing by Derek Caney) Keywords: GAMESTOP/ (Email: Franklin.Paul@thomsonreuters.com; +1 646 223 6195; Reuters Messaging: Franklin.Paul.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The world's largest standalone retailer of video game software, consoles and accessories, said its fourth quarter profit was $215.9 million, or $1.29 a share, compared to $232.3 million, or $1.39, in the same period a year ago.
Revenue rose to $3.52 billion from $3.49 billion a year ago, despite a 7.9 percent decline in comparable store sales.
Analysts had expected a profit of $1.28 a share, on revenue of $3.44 billion, according to Thomson Reuters I/B/E/S.
The company in January warned of the disappointing results, due to the weak economy, bad weather and product shortages. At that time, analysts had expected a fourth quarter profit of $1.57 a share.
(Reporting by Franklin Paul; Editing by Derek Caney) Keywords: GAMESTOP/ (Email: Franklin.Paul@thomsonreuters.com; +1 646 223 6195; Reuters Messaging: Franklin.Paul.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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