GameStop Corp. Reports Sales Results for the Nine-Week Holiday Period Ended December 31, 2016; Reiterates Earnings Guidance for the Fourth Quarter and Full-Year 2016
The company is reiterating its previously announced fourth quarter and full-year 2016 earnings per share guidance of $2.23 to $2.38 and $3.65 to $3.80, respectively, excluding any year-end impairments and store closing charges, based on a favorable fourth quarter tax rate of between 32.5% and 34.5% compared to the initially forecasted rate of 36.0%. Comparable store sales for the fourth quarter are now expected to be in a range of negative 18.0% to negative 16.0% and negative 12.0 to negative 10.0% for the fiscal year.