Electronics Boutique Profit Up, Boosts Outlook
LOS ANGELES -- Video game retailer Electronics Boutique Holdings Corp. on Thursday said its quarterly profit more than doubled on broad sales strength, and it raised its full year outlook in anticipation of a strong holiday season, according to a Reuters report.
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in EB rose nearly 11% in after-hours trading on the news. The company's stock rose sharply earlier this week after its chief competitor, GameStop Corp., also posted strong results.
West Chester, PA-based Electronics Boutique said net profit rose to $3.9 million for its fiscal 2Q ended July 31, from $1.7 million a year earlier.
Sales rose to $362 million from $302.1 million, though comparable-store sales declined 2.2%.
The company opened 117 new stores in the quarter, bringing its total count to 1,733 as of July 31.
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West Chester, PA-based Electronics Boutique said net profit rose to $3.9 million for its fiscal 2Q ended July 31, from $1.7 million a year earlier.
Sales rose to $362 million from $302.1 million, though comparable-store sales declined 2.2%.
The company opened 117 new stores in the quarter, bringing its total count to 1,733 as of July 31.
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