March 19, 2010 /EIN PRESSWIRE/ GameSpot, the world’s biggest stand-alone retailer of video games, reported Q4 earnings that were a shade higher than analysts estimated and expressed optimism for increased earnings in 2010.
Despite a 7.1% drop in net sales in Q4 blamed on a slumbering economy, a shortage of consoles and holiday hit games, GameStop shares rose 6% Thursday after its announcement. The company said it plans to open 400 new stores this year and close 100 and expects sales to increase by up to 6% in 2010.
The company also announced plans to launch a new royalty program, which will be test-marketed in four US markets.
Read more at Video Games Industry Today:
GameStop news – http://videogames.einnews.com/news/gamestop-games
Video Game Sales news – http://videogames.einnews.com/news/video-game-sales
Located at http://videogames.einnews.com, Video Game Industry Today is a service of EIN News, an industry leader in news monitoring for business professionals and analysts. Using a combination of proprietary search technology and human editing, EIN News delivers to its members the latest video game news from around the world, saving them valuable time they’d spend searching for information. New users to Video Game Industry Today can enjoy a no-obligation, one-week free trial.
About EIN Presswire
The EIN Presswire press release distribution service is a news-syndication solution that distributes news to more than 10 million visitors annually at EIN News and millions more through its press release distribution partners. A news source for leading journalists, decision-makers and industry professionals worldwide, EIN Presswire targets press releases to a wide array of worldwide business professionals in more than 80 different industries. EIN Presswire also offers affiliate network opportunities and news distribution to tens of thousands of news subscribers daily. Read the newest business news at http://www.einpresswire.com and the latest world news in more than 80 different industries at http://www.einnews.com.