GameStop Corp. Reports Sales Results for the Nine-Week Holiday Period Ended December 31, 2017; Revised Earnings Guidance for the Full Year of 2017
The company revised earnings guidance for the full year of 2017. Given the product category mix of sales in the holiday period, the company expects to deliver adjusted earnings per share near the middle of its previously announced full-year 2017 guidance of $3.10 to $3.40. The company also expects full-year fiscal 2017 comparable store sales to increase between 4% and 6% compared to the comparable fifty-three-week period. The company continues to anticipate fiscal 2017 adjusted operating earnings for its Technology Brands business to be in the range of $75 million to $90 million. This guidance excludes any year-end impairments and store closing charges, as well as any tax effects related to the recently enacted tax reform legislation.