GameStop reports Q4 and 2015 earnings

Retailer GameStop has reported that its Q4 net earnings were $247.8 million, an increase on the same period last year which saw net earnings of $244.1 million. Total global revenue for Q4 were $3.53 billion, a 1.4 per cent increase year-on-year.

For fiscal year 2015 total global sales were $9.36 billion compared to $9.30 billion in fiscal 2014. Net earnings were $402.8 million compared to net earnings of $393.1 million in fiscal 2014.

"In 2015, the GameStop team achieved several significant milestones in our on-going transformation efforts. The company posted its third straight year of positive comps, exceeded $1 billion in digital receipts, gained market share in our core video game business, and introduced new collectibles products that contributed over $300 million in sales," said CEO Paul Raines in a statement.

"The company also more than doubled the number of Technology Brand stores we operate, growing sales to $534 million. These accomplishments drove record gross profit and net income, strong earnings per share growth and an increase in per store profits in our GameStop branded stores for the third straight year. For 2016, we are focused on continuing to expand store profit contribution and our diversification efforts, as we build upon our leadership in video gaming."

The company said it expected sales to decline in the current quarter and shares fell by 5 per cent in after-market trading.