GameStop's holiday sales beat last year's
GameStop Corp's
The biggest U.S. video game retailer said sales for the holiday period -- the key season for retailers -- totaled about $3.02 billion, a 5.4 percent increase from a year earlier.
Comparable same-store sales rose 3.4 percent, which came in lower than what some analysts had been expecting. Wedbush Securities' analyst Michael Pachter had expected same-store sales for the nine-week holiday period ending January 1 to be more than 5 percent higher.
Shares of GameStop fell 1.7 percent in premarket trading.
New video game software sales increased 3.3 percent -- thanks to hot titles like Call of Duty: Black Ops from Activision Blizzard
Post-holiday sales are also significantly outperforming expectations, the company said.
The company reiterated its profit forecast for the fourth quarter. GameStop expects to post earnings of $1.53 to $1.59 a share, in line with analysts' average view of $1.56 a share, according to Thomson Reuters I/B/E/S.
Thursday's sales numbers echoed comments made by GameStop executives in October about holiday sales topping 2009's.
Microsoft
Shares of GameStop closed at $21.89 on Wednesday on the New York Stock Exchange.
(Reporting by Liana B. Baker, editing by Dave Zimmerman)
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