Wedbush Morgan analyst Michael Pachter believes that US retailer GameStop made a "strategic error" in not acquiring UK chain Gamestation, allowing GAME to do just that, and closing off a growth route for GameStop in the process.
GameStop has released its financial reports for the fourth quarter ending February 2, reporting net income of USD 189.8 million - up 46 per cent from the prior year
GameStop has recorded profits of USD 24.7 million (EUR 18.3m), a rise of 111 per cent, and sales of USD 1.28 billion (EUR 949m), up 23 per cent, for the first quarter of 2007.
Sales at US retailer GameStop reached USD 5.3 billion (EUR 3.9bn) for the fiscal year ended 2006, a 72 per cent rise over the USD 3.01 billion (EUR 2.2bn) for the previous year.