Video-game retailer GameStop reports 25.7% fall in quarterly sales

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FILE PHOTO: A GameStop store is photographed in Austin, TX, U.S., March 26, 2018. Picture taken on March 26, 2018. REUTERS/Mohammad Khursheed

(Reuters) – GameStop Corp reported a 25.7% fall in third-quarter sales on Tuesday, hit by lower console sales ahead of the new console launches in 2020, and cut its full-year profit forecast.

The company’s shares fell 15% in extended trading.

GameStop now sees its full-year earnings per share forecast in the range of 10 cents to 20 cents, from an earlier forecast of $1.15 to $1.30.

Net sales fell to $1.44 billion from $1.94 billion.

Reporting by Amal S in Bengaluru; Editing by Shailesh Kuber

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