GameStop profit down 9.8%; declares quarterly dividend

After previewing first quarter earnings last week, GameStop (NYSE: GME) announced that total sales were down 12.2 percent to $2 billion compared to $2.28 billion in the same quarter last year. The Grapevine-based company reported net earnings of $72.5 million for the quarter ending April 28, compared to $80.4 million in previous year’s same quarter. New video game software sales dropped 20 percent from the same quarter in 2011. Hardware sales and pre-owned sales were also down. The company said...