GameStop Reports Third Quarter 2014 Results


GameStop Corp.
Condensed Consolidated Statements of Operations
(in millions, except per share data)
(unaudited)

	39 weeks			39 weeks
	ended			ended
	Nov 1, 2014			Nov 2, 2013

Net sales	$	5,819.9		$	5,355.7
Cost of sales		4,020.4			3,697.6

Gross profit		1,799.5			1,658.1

Selling, general and administrative
expenses		1,450.7			1,319.3
Depreciation and amortization		116.4			123.7

Operating earnings		232.4			215.1

Interest expense, net		4.8			2.9


Earnings before income tax expense		227.6			212.2

Income tax expense		78.6			78.5

Net income	$	149.0		$	133.7

Net income per common share:
Basic	$	1.31		$	1.14
Diluted	$	1.30		$	1.12

Dividends per common share	$	0.99		$	0.825

Weighted average common shares
outstanding:
Basic		113.5			117.7
Diluted		114.4			118.9



Percentage of Net Sales:

Net sales		100.0	%		100.0	%
Cost of sales		69.1	%		69.0	%

Gross profit		30.9	%		31.0	%

Selling, general and administrative
expenses		24.9	%		24.6	%
Depreciation and amortization		2.0	%		2.3	%

Operating earnings		4.0	%		4.1	%

Interest expense, net		0.1	%		0.1	%


Earnings before income tax expense		3.9	%		4.0	%

Income tax expense		1.3	%		1.5	%

Net income		2.6	%		2.5	%

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