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GameStop Shares Plunge 15% On Weak Sales
GameStop Shares Plunge 15% On Weak Sales
Gamesindustry - January 8, 2009
Submitted by mrahaju (9) at 5:51AM PST on January 10, 2010
Shares in US specialist retailer GameStop have fallen by almost 15 per cent following its revelation earlier this week of poor Holiday sales.
The company reported revenues down by 8.6 per cent for the nine-week period ending January 2 at USD 2.86 billion, significantly lower than most analysts had predicted.
The company also slashed its Q4 forecast to an estimate of a 8.5-9.5 per cent decline, compared to previous guidance of a 4-7 per cent decline.
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