GameStop 2015 Annual Report Download - page 79

Download and view the complete annual report

Please find page 79 of the 2015 GameStop annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 109

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109

.FSDIBOEJTF *OWFOUPSJFT
0VS NFSDIBOEJTF JOWFOUPSJFT BSF DBSSJFE BU UIF MPXFS PG DPTU PS NBSLFU HFOFSBMMZ VTJOH UIF BWFSBHF DPTU NFUIPE 6OEFS UIF
BWFSBHF DPTU NFUIPE BT OFX QSPEVDU JT SFDFJWFE GSPN WFOEPST JUT DVSSFOU DPTU JT BEEFE UP UIF FYJTUJOH DPTU PG QSPEVDU POIBOE
BOE UIJT BNPVOU JT SFBWFSBHFE PWFS UIF DVNVMBUJWF VOJUT 1SFPXOFE WJEFP HBNF QSPEVDUT USBEFE JO CZ DVTUPNFST BSF SFDPSEFE BT
JOWFOUPSZ BU UIF BNPVOU PG UIF TUPSF DSFEJU HJWFO UP UIF DVTUPNFS 8F BSF SFRVJSFE UP NBLF BEKVTUNFOUT UP JOWFOUPSZ UP SFGMFDU
QPUFOUJBM PCTPMFTDFODF PS PWFSWBMVBUJPO BT B SFTVMU PG DPTU FYDFFEJOH NBSLFU *O WBMVJOH JOWFOUPSZ XF DPOTJEFS RVBOUJUJFT PO IBOE
SFDFOU TBMFT QPUFOUJBM QSJDF QSPUFDUJPOT SFUVSOT UP WFOEPST BOE PUIFS GBDUPST
0VS BCJMJUZ UP BTTFTT UIFTF GBDUPST JT EFQFOEFOU VQPO PVS BCJMJUZ UP GPSFDBTU DVTUPNFS EFNBOE BOE UP QSPWJEF B XFMMCBMBODFE
NFSDIBOEJTF BTTPSUNFOU *OWFOUPSZ JT BEKVTUFE CBTFE PO BOUJDJQBUFE QIZTJDBM JOWFOUPSZ MPTTFT PS TISJOLBHF BOE BDUVBM MPTTFT SFTVMUJOH
GSPN QFSJPEJD QIZTJDBM JOWFOUPSZ DPVOUT *OWFOUPSZ SFTFSWFT BT PG +BOVBSZ   BOE +BOVBSZ   XFSF  NJMMJPO BOE
 NJMMJPO SFTQFDUJWFMZ
1SPQFSUZ BOE &RVJQNFOU
1SPQFSUZ BOE FRVJQNFOU BSF DBSSJFE BU DPTU MFTT BDDVNVMBUFE EFQSFDJBUJPO BOE BNPSUJ[BUJPO %FQSFDJBUJPO PO GVSOJUVSF GJYUVSFT
BOE FRVJQNFOU JT DPNQVUFE VTJOH UIF TUSBJHIUMJOF NFUIPE PWFS UIFJS FTUJNBUFE VTFGVM MJWFT SBOHJOH GSPN UXP UP UFO ZFBST
.BJOUFOBODF BOE SFQBJST BSF FYQFOTFE BT JODVSSFE XIJMF CFUUFSNFOUT BOE NBKPS SFNPEFMJOH DPTUT BSF DBQJUBMJ[FE -FBTFIPME
JNQSPWFNFOUT BSF DBQJUBMJ[FE BOE BNPSUJ[FE PWFS UIF TIPSUFS PG UIFJS FTUJNBUFE VTFGVM MJWFT PS UIF UFSNT PG UIF SFTQFDUJWF MFBTFT
JODMVEJOH PQUJPO QFSJPET JO XIJDI UIF FYFSDJTF PG UIF PQUJPO JT SFBTPOBCMZ BTTVSFE HFOFSBMMZ SBOHJOH GSPN UISFF UP UFO ZFBST
$PTUT JODVSSFE JO QVSDIBTJOH NBOBHFNFOU JOGPSNBUJPO TZTUFNT BSF DBQJUBMJ[FE BOE JODMVEFE JO QSPQFSUZ BOE FRVJQNFOU 5IFTF
DPTUT BSF BNPSUJ[FE PWFS UIFJS FTUJNBUFE VTFGVM MJWFT GSPN UIF EBUF UIF TZTUFNT CFDPNF PQFSBUJPOBM 0VS UPUBM EFQSFDJBUJPO FYQFOTF
XBT  NJMMJPO  NJMMJPO BOE  NJMMJPO EVSJOH GJTDBM  GJTDBM  BOE GJTDBM  SFTQFDUJWFMZ
8F QFSJPEJDBMMZ SFWJFX PVS QSPQFSUZ BOE FRVJQNFOU XIFO FWFOUT PS DIBOHFT JO DJSDVNTUBODFT JOEJDBUF UIBU UIFJS DBSSZJOH
BNPVOUT NBZ OPU CF SFDPWFSBCMF PS UIFJS EFQSFDJBUJPO PS BNPSUJ[BUJPO QFSJPET TIPVME CF BDDFMFSBUFE 8F BTTFTT SFDPWFSBCJMJUZ
CBTFE PO TFWFSBM GBDUPST JODMVEJOH PVS JOUFOUJPO XJUI SFTQFDU UP PVS TUPSFT BOE UIPTF TUPSFTa QSPKFDUFE VOEJTDPVOUFE DBTI GMPXT
"O JNQBJSNFOU MPTT XPVME CF SFDPHOJ[FE GPS UIF BNPVOU CZ XIJDI UIF DBSSZJOH BNPVOU PG UIF BTTFUT FYDFFET UIFJS GBJS WBMVF BT
BQQSPYJNBUFE CZ UIF QSFTFOU WBMVF PG UIFJS QSPKFDUFE EJTDPVOUFE DBTI GMPXT 8F SFDPSEFE JNQBJSNFOU MPTTFT PG  NJMMJPO 
NJMMJPO BOE  NJMMJPO JO GJTDBM  GJTDBM  BOE GJTDBM  SFTQFDUJWFMZ 4FF /PUF  "TTFU *NQBJSNFOUT GPS GVSUIFS
JOGPSNBUJPO SFHBSEJOH PVS BTTFU JNQBJSNFOU DIBSHFT
(PPEXJMM  *OUBOHJCMF "TTFUT
4FF /PUF  (PPEXJMM BOE *OUBOHJCMF "TTFUT GPS BEEJUJPOBM JOGPSNBUJPO SFHBSEJOH PVS BDDPVOUJOH QPMJDJFT GPS HPPEXJMM BOE
JOUBOHJCMF BTTFUT
3FWFOVF 3FDPHOJUJPO
8F SFDPHOJ[F SFWFOVF XIFO UIF TBMFT QSJDF JT GJYFE PS EFUFSNJOBCMF DPMMFDUJPO JT SFBTPOBCMZ BTTVSFE BOE UIF DVTUPNFS UBLFT
QPTTFTTJPO PG UIF NFSDIBOEJTF PS JO UIF DBTF PG DPNNJTTJPOT XIFO UIF DPNNJTTJPOHFOFSBUJOH BDUJWJUZ IBT CFFO QFSGPSNFE
3FWFOVF GSPN UIF TBMFT PG PVS QSPEVDUT JT SFDPHOJ[FE BU UIF UJNF PG TBMF OFU PG TBMFT EJTDPVOUT BOE OFU PG BO FTUJNBUFE TBMFT
SFUVSO SFTFSWF CBTFE PO IJTUPSJDBM SFUVSO SBUFT XJUI B DPSSFTQPOEJOH SFEVDUJPO JO DPTU PG TBMFT 0VS TBMFT SFUVSO QPMJDZ JT HFOFSBMMZ
MJNJUFE UP  EBZT PS MFTT BOE BT TVDI PVS TBMFT SFUVSOT BSF BOE IJTUPSJDBMMZ IBWF CFFO JNNBUFSJBM
5IF TBMFT PG QSFPXOFE WJEFP HBNF QSPEVDUT BSF SFDPSEFE BU UIF SFUBJM QSJDF DIBSHFE UP UIF DVTUPNFS "EWFSUJTJOH SFWFOVFT
GPS (BNF *OGPSNFS BSF SFDPSEFE VQPO SFMFBTF PG NBHB[JOFT GPS TBMF UP DPOTVNFST 4VCTDSJQUJPO SFWFOVFT GPS PVS 1PXFS6Q 3FXBSET
MPZBMUZ QSPHSBN BOE NBHB[JOFT BSF SFDPHOJ[FE PO B TUSBJHIUMJOF CBTJT PWFS UIF TVCTDSJQUJPO QFSJPE 3FWFOVF GSPN UIF TBMFT PG
QSPEVDU SFQMBDFNFOU QMBOT JT SFDPHOJ[FE PO B TUSBJHIUMJOF CBTJT PWFS UIF DPWFSBHF QFSJPE $VTUPNFS MJBCJMJUJFT BOE PUIFS EFGFSSFE
SFWFOVFT GPS PVS 1PXFS6Q 3FXBSET MPZBMUZ QSPHSBN HJGU DBSET DVTUPNFS DSFEJUT NBHB[JOFT BOE QSPEVDU SFQMBDFNFOU QMBOT BSF
JODMVEFE JO BDDSVFE MJBCJMJUJFT TFF /PUF  "DDSVFE -JBCJMJUJFT
8F BMTP TFMM B WBSJFUZ PG EJHJUBM QSPEVDUT XIJDI HFOFSBMMZ BMMPX DPOTVNFST UP EPXOMPBE TPGUXBSF PS QMBZ HBNFT PO UIF JOUFSOFU
$FSUBJO PG UIFTF QSPEVDUT EP OPU SFRVJSF VT UP QVSDIBTF JOWFOUPSZ PS UBLF QIZTJDBM QPTTFTTJPO PG PS UBLF UJUMF UP JOWFOUPSZ 8IFO
QVSDIBTJOH UIFTF QSPEVDUT GSPN VT DPOTVNFST QBZ B SFUBJM QSJDF BOE XF FBSO B DPNNJTTJPO CBTFE PO B QFSDFOUBHF PG UIF SFUBJM TBMF
BT OFHPUJBUFE XJUI UIF QSPEVDU QVCMJTIFS 8F SFDPHOJ[F UIFTF DPNNJTTJPOT BT SFWFOVF BU UIF UJNF PG TBMF PG UIFTF EJHJUBM QSPEVDUT
0VS 4QSJOH .PCJMF CVTJOFTT FBSOT DPNNJTTJPO SFWFOVF BT BO "55 BVUIPSJ[FE EFBMFS SFMBUFE UP UIF BDUJWBUJPO PG OFX XJSFMFTT
DVTUPNFST UIF BDUJWBUJPO PG FOIBODFE PS VQHSBEFE GFBUVSFT PO FYJTUJOH XJSFMFTT DVTUPNFS QMBOT BOE DFSUBJO PUIFS DPNNJTTJPO
JODFOUJWF PQQPSUVOJUJFT UIBU NBZ CF PGGFSFE UP VT CZ"55 8F IBWF EFUFSNJOFE UIBU XF BSF OPU EFFNFE UIF PCMJHPS PO UIF VOEFSMZJOH
(".&4501 $031
/05&4 50 $0/40-*%"5&% '*/"/$*"- 45"5&.&/54
'