"GameStop delivered better than expected fourth quarter results on March 22. Adjusted earnings per share came in at $1.73, beating the Zacks Consensus Estimate by a penny. It was a solid 10% increase over the same quarter in 2010.
Total sales for the quarter were $3.58 billion, down 3% from the same quarter in 2010. This was driven by a 3.6% decline in same-store sales.
Sales increases in both New Video Game Software and Used Video Game Products were more than offset by a decline in New Video Game Hardware.
Meanwhile, GameStop's overall gross profit margin expanded from 24.5% to 26.4% of sales.
Management provided an encouraging outlook for 2012, stating that it expects operating earnings growth based on 'the continuation of our transformation, led by our strong pre-owned business, expanding digital offerings and emerging mobile categories.' "