GameStop raises financial guidance

GameStop has raised its fourth quarter and full-year financial guidance based upon higher than expected January sales.

The retailer's stock rose up more than two per cent in midday trading on the news.

Despite a shortage of videogame hardware, same store sales were higher than its guidance range in January. The company now expects earnings per share in the fourth quarter in the range of USD 1.11 - 1.12, up two cents from its original forecast.

GameStop similarly increased its projected annual earnings by two cents, expecting earnings per share for 2007 in the USD 1.77 - 1.78 range.