GameStop Cuts Q2 Forecast, Shares Slip 6% in Friday's Session

Shares of GameStop are lower in Friday's trading session after the company lowered its profit outlook for the second quarter.
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Shares of GameStop (GME) - Get Report are lower in Friday's trading session after the company lowered its profit outlook for the second quarter. Shares of the video game retailer slipped more than 6 percent in Friday's session. On Thursday evening, GameStop said that it cut its forecast for the second quarter. The company now expects earnings of $0.23 to $0.30 a share for the upcoming quarter, analysts had been expecting profits of $0.33 a share. Meanwhile, the company also said it expects same store sales to decline four to six percent in the second quarter, alarming some investors over the prospects of GameStop's ability to grow.

This article was written by a staff member of TheStreet.