gamestop growth rests on holiday shoppers
Last Updated : GMT 17:58:00
Arab Today, arab today
Arab Today, arab today

GameStop growth rests on holiday shoppers

Arab Today, arab today

Arab Today, arab today GameStop growth rests on holiday shoppers

New York - Arabstoday

GameStop Corp said its growth this year will be driven by a strong holiday lineup and customers buying used games to save money, which sent its shares higher after an initial drop on Thursday. The largest video game retailer said its second-quarter profit and revenue fell as sales of video game hardware and software unperformed. Its shares fell by as much as 10 per cent before turning positive in the afternoon. Sales of traditional video game products such as consoles have been struggling globally as gamers turn to lower-priced online games or play games on tablets and cellphones. Strong holiday season Article continues below But GameStop expected a strong holiday season, as orders grow at a record pace for upcoming titles such as Activision Blizzard Inc\'s Call of Duty and Electronic Arts Inc\'s Modern Warfare 3. With markets down on Thursday, it took some time for investors to realize GameStop\'s potential this year. \"The optimism about the second half of the year is now beginning to make it onto the marketplace. That word is starting to get out and you\'re seeing a recovery taking place,\" said GameStop president Tony Bartel in an interview. Manufacturers such as Sony Corp and Nintendo Co Ltd have been cutting prices, which will help GameStop in the lead-up to the holiday season. On Wednesday, Sony said it was cutting the price of the entry-level PlayStation 3 console by nearly a fifth in the United States. Bartel said GameStop saw a bump in sales last week as soon as it started selling the cheaper PlayStation units. For the second quarter ended July 30, the company said its net income fell to $30.6 million (Dh112 million), or 22 cents per share, down from $39.8 million, or 26 cents per share a year earlier. Its earnings beat Wall Street by a penny. \"This is not as bad as people were fearing,\" said Sterne Agee analyst Arvind Bhatia, pointing to the company\'s 12 per cent boost in used video game sales, which have higher margins than sales of new games.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

gamestop growth rests on holiday shoppers gamestop growth rests on holiday shoppers

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

gamestop growth rests on holiday shoppers gamestop growth rests on holiday shoppers

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Presenter Sherine Ramahi proud of her career

GMT 06:46 2017 Sunday ,19 November

Presenter Sherine Ramahi proud of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday