GameStop Corp. said Friday same-store sales fell 18.7% in the nine-week holiday period to end December, weighed down by weak demand for “Call of Duty: Infinite Warfare” and “Titanfall 2” and aggressive discounting on Thanksgiving and Black Friday. Total sales came to $2.50 billion, down 16.4% from the year-earlier period. Chief Executive Paul Raines said sales were hurt by holiday weakness, pricing pressure and lower traffic. “We are disappointed with our overall results, but looking broadly, we did see continued growth in our non-physical gaming businesses and we expect this category to approach 40% of our earnings in fiscal 2016,” he said in a statement. The company is still aiming to save $100 million in sales, general and admin costs by 2019, he said. GameStop is sticking with its fourth-quarter forecast for EPS of $2.23 to $2.28, below the FactSet consensus of $2.33. Shares were not yet active in premarket trade, but have fallen 8% in the last 12 months, while the S&P 500 has gained 17%.
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