GameStop Corp. announced consolidated earning results for the first quarter ended May 4, 2013. Total global sales for the first quarter of 2013 were $1.87 billion compared to $2.00 billion in the prior year quarter, a decrease of 6.8%. Consolidated comparable store sales decreased 6.7% compared to the prior year quarter. Consolidated net income attributable to company was $54.6 million or $0.46 per diluted share compared to $72.5 million or $0.54 per diluted share reported last year. The better-than-expected results were primarily due to a 100 basis point increase in gross margins. Operating earnings were $87.2 million against $115.0 million and earnings before income tax expense were $86.3 million against $114.6 million reported last year. The board of directors of the company also declared a quarterly cash dividend of $0.275 per common share payable on June 19, 2013 to shareholders of record at the close of business on June 4, 2013. For the second quarter of fiscal 2013, GameStop expects comparable store sales to range from -16.0% to -12.5%. Diluted earnings per share are expected to range from $0.01 to $0.07. The company is increasing the lower end of its previously announced full year diluted earnings per share guidance range of $2.75 to $3.15 to $2.90 to $3.15. The previous full year comparable store sales range of -6.0% to +1.5% is being narrowed to -5.0% to +1.5%.

GameStop Corp. at its AGM to be held on June 25, 2013, proposes amendment to company’s second amended and restated certificate of incorporation to declassify the board of directors.

GameStop Corp. announced that they will report Q1, 2013 results at 9:00 AM, Eastern Standard Time on May 23, 2013