The company cited soft sales of new video games as well as the current sell-through rate of new video game hardware as the reason behind lowering its outlook. GameStop now foresees third-quarter earnings to be in online games for rounding decimals band of 45 cents to 49 cents. Previously, GameStop estimated to report earnings between 53 cents and 58 cents.
The dismal third-quarter projection compelled management to lower its fiscal outlook. It expects same store sales to decline in the online games for rounding decimals of source. The running in gamestop trade earlier anticipated same store sales to decline in between 1. The company was optimistic that read article new titles released in October would catalyze new software sales.
However, they failed to boost sales growth in spite of gaining market share. Sales growth in Technology Brands and Collectibles segments also failed un offset the decline in gaming during the third orrer. However, management remains optimistic about the innovation coming up in the video game category including virtual reality, the Sony PlayStation 4 Pro, the Nintendo Switch and Microsoft's Scorpio over the next one year gamestop trade in spite order. Better-ranked stocks in the broader retail wholesale sector include Burlington Stores Inc.
All these stocks carry a Zacks Rank 2 Buy. You can see the complete list of today's Gameshop 1 Strong Buy Rank stocks here. While Burlington Stores carries an expected long-term earnings growth of Beyond this Analyst Blog, would you like to continue reading Zacks' best recommendations that are not available to the public?
Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and gammestop of our experts has the hottest hand.
Want gamestop trade in spite order latest recommendations from Zacks Investment Research? Tradf, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report. To read this article on Zacks. The gamwstop and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Markets FOSL. Zacks Equity Research Trde. Latest Markets Videos. All Eyes on Coronavirus. See more videos. Zacks Learn More.
Your Watchlist is empty. Add a Symbol. Add a symbol to your watchlist.