HardOCP News
[H] News
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- Dec 31, 1969
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It is absolutely mind boggling how a company that buys used games, marks them up two million percent and resells them, can end up posting a $270 million net loss.
GameStop announced the results of it 2012 fiscal year (ending Feb. 2, 2013) today, with revenues of $403 million, which is slightly down from the $405.1 million in fiscal 2011. Due to "restructuring, impairment and debt retirement expenses of $680.7 million primarily related to goodwill impairment," the company saw a net loss of $269.7 million (2011: net earning of $339.9).