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 GameStop Posts $270M Net Loss - briefly
(hx) 02:33 AM EDT - Mar,29 2013
GameStop announced the results of it 2012 fiscal year (ending Feb. 2, 2013) today, with revenues of $403 million, which is slightly down from the $405.1 million in fiscal 2011. Due to "restructuring, impairment and debt retirement expenses of $680.7 million primarily related to goodwill impairment," the company saw a net loss of $269.7 million (2011: net earning of $339.9). It is absolutely mind boggling how a company that buys used games, marks them up two million percent and resells them, can end up posting a $270 million net loss.

last 10 comments:
Stumpus(08:07 AM EDT - Mar,29 2013 )
Greed, mismanagement and Directors creaming the cash (massive bonuses) and thinking of tomorrow, rather than the future are all classic 'symptoms' of business today.
Of course that will all be denied. Par for the course

Csimbi(01:42 PM EDT - Mar,29 2013 )
Won't be missed...

tride(03:17 AM EDT - Mar,30 2013 )
Boy, i wont be surprised if they start a kickstarter campaign to try and cover their loses :lol:

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