Gamestop posts profit, shares fall
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GameStop Corp., the largest U.S. video game retailer, reported on Tuesday a quarterly profit that fell slightly short of Wall Street estimates and shares fell as much as 2.7 percent.
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Quarterly net income was $46.3 million against a year-earlier loss, but sales continued to fall at the retailer amid intense competition in the electronics sector.
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British computer and video games  retailer Game Group Plc  said on Monday it expected its  full-year profit to be ahead of an average market forecast  following a continued strong sales performance.
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The electronics retailer said it swung to a third-quarter profit, overcoming lower revenue by cutting costs and selling more high-margin items.
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Electronic Arts swung to a loss because of restructuring charges and deferred revenue, but posted record revenue during the most brisk holiday season the video game industry has seen.
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Wal-Mart Stores Inc.  on Tuesday  reported a 26 percent drop in quarterly profit -- its first  earnings decline in more than 10 years -- because of a charge  for selling its German stores to a rival, but it maintained its  full-year profit forecast.
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Kroger Co. , the largest US grocer, on Tuesday reported a lower quarterly profit, hurt by debt costs even as sales rebounded in Southern California where it was hit by a strike.
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Japanese games console maker Nintendo sees its profits fall,  despite  strong sales of its DS portable games machine.
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Kroger Co., the largest US grocer, reported a lower quarterly profit Tuesday, hurt by debt costs even as sales rebounded in Southern California where it was hit by a strike.
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No. 1 video game maker Electronic  Arts Inc on Tuesday reported higher quarterly profits on strong  demand for titles like Madden NFL 2005, but its stock price  fell after a holiday forecast fell short of Wall Street  expectations.
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In a Feb. 1 story about Electronic Arts Inc.'s earnings, The Associated Press reported erroneously that third-quarter sales had dropped 38 percent. It was profits that dropped by that margin.
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Tyson Foods Inc. TSN.N, the largest  U.S. meat producer, on Monday said quarterly earnings dropped  by more than 50 percent in part to poor results in its beef  segment.
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No. 1 video game maker Electronic  Arts Inc ERTS.O on Tuesday reported higher quarterly profits  on strong demand for titles like Madden NFL 2005, but its stock  price fell after a holiday forecast fell short of Wall Street  expectations.
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Japanese electronics giant Sony reports a drop in profits as high costs at its game unit offset strong TV sales.
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Texas Instruments Inc.  posted a lower quarterly profit on weak demand for its calculators and other products, and gave a disappointing revenue forecast for the third quarter, sending shares down 3 percent on Monday.
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Best Buy Co. Inc.  reported lower-than-expected quarterly profit on Tuesday as the consumer electronics retailer cut prices on flat-panel televisions to try to spur holiday sales.
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Kroger Co. , the largest U.S. grocery chain, posted a weaker-than-expected rise in quarterly profit on Tuesday due to labor unrest at a distribution center, sending its shares down in early electronic trade.