chainmychomp

Here's a story I found on a blog (a political one, so it's probably out of the interest of this forum):

GameStop lowers its holiday earnings forecast

By Ben Fox Rubin

NEW YORK (MarketWatch) — GameStop Corp. (NYSE:GME) lowered its already soft earnings estimate for the critical holiday quarter, as the videogame retailer continues to struggle with weaker sales and consumer interest in cheaper mobile games.

Shares fell following the news. As of Monday’s close, the stock was down 12% in the past three months.

The company now expects to post quarterly income of $1.85 to $1.95 a share, down from its downbeat November forecast of $1.97 to $2.14 a share. However, same-store sales are expected to reach the high end of its guidance. The retailer had predicted a 2% to 9% rise.

GameStop also trimmed its full-year earnings estimate, now seeing $2.96 to $3.06 a share, down from its November view of $3.08 to $3.25 a share.

With videogame sales continuing to slide, the Grapevine, Texas, company has struggled to contend with consumers increasingly turning toward cheaper mobile games.

source here

Looks like GameStop having difficulties, I imagine that online sales from Nintendo, Sony, Microsoft, Apple, Amazon, Steam, et al, is beating the crap out of them.