The GameStop store sign is seen at its shop in Westminster, Colorado January 14, 2014.
Credit: /Rick Wilking
- GameStop Corp's full-year profit forecast missed Wall Street expectations as the dollar strengthened and demand for new PlayStation 4 and Xbox One consoles failed to make up for falling sales of earlier versions.
Shares of the world's largest retailer of video game products, which also reported a quarterly profit that missed estimates, fell 6 percent in after-market trading on Thursday.
Demand for Microsoft Corp's Xbox One and Sony Corp's PlayStation 4 consoles have also cooled off since the holiday shopping season. Both consoles were hugely popular in the year following their launches in November 2013.
The sales decline for older-generation hardware is more rapid now, Telsey Advisory Group analyst Joseph Feldman said. "It just feels like things are going to be a little bit softer than what the initial model had projected."
The eighth-generation video game consoles followed PlayStation 3 and Xbox 360.
No comments:
Post a Comment