Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Aug. 02, 2014 | Aug. 29, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 2-Aug-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Trading Symbol | 'GME | ' |
Entity Registrant Name | 'GameStop Corp. | ' |
Entity Central Index Key | '0001326380 | ' |
Current Fiscal Year End Date | '--01-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 112,667,338 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Aug. 03, 2013 |
In Millions, unless otherwise specified | |||
Current assets: | ' | ' | ' |
Cash and cash equivalents | $193 | $536.20 | $127.40 |
Receivables, net | 91.2 | 84.4 | 55.7 |
Merchandise inventories, net | 1,061 | 1,198.90 | 1,004.40 |
Deferred income taxes | 59.2 | 51.7 | 55.2 |
Income Taxes Receivable | 83 | 0 | 50.9 |
Prepaid expenses and other current assets | 98.9 | 78.4 | 98.8 |
Total current assets | 1,586.30 | 1,949.60 | 1,392.40 |
Property and equipment: | ' | ' | ' |
Land | 21 | 20.4 | 20.7 |
Buildings and leasehold improvements | 621.9 | 609.6 | 594.3 |
Fixtures and equipment | 864 | 841.8 | 939.2 |
Total property and equipment | 1,506.90 | 1,471.80 | 1,554.20 |
Less accumulated depreciation and amortization | 1,057.20 | 995.6 | 1,074.80 |
Net property and equipment | 449.7 | 476.2 | 479.4 |
Goodwill | 1,420.60 | 1,414.70 | 1,365.10 |
Other intangible assets, net | 222 | 194.3 | 144.4 |
Other noncurrent assets | 84.9 | 56.6 | 57 |
Total noncurrent assets | 2,177.20 | 2,141.80 | 2,045.90 |
Total assets | 3,763.50 | 4,091.40 | 3,438.30 |
Current liabilities: | ' | ' | ' |
Accounts payable | 460.8 | 783.9 | 315.8 |
Accrued liabilities | 743.1 | 861.7 | 812 |
Income taxes payable | 29.7 | 78 | 0 |
Current portion of debt | 214.1 | 2.4 | 50 |
Total current liabilities | 1,447.70 | 1,726 | 1,177.80 |
Deferred income taxes | 58.9 | 37.4 | 27.3 |
Other long-term liabilities | 75.2 | 75 | 76.5 |
Notes payable - long-term | 0.3 | 1.6 | 0 |
Total long-term liabilities | 134.4 | 114 | 103.8 |
Total liabilities | 1,582.10 | 1,840 | 1,281.60 |
Commitments and contingencies (Note 7) | ' | ' | ' |
Stockholders' equity: | ' | ' | ' |
Preferred stock — authorized 5.0 shares; no shares issued or outstanding | 0 | 0 | 0 |
Class A common stock — $.001 par value; authorized 300.0 shares; 112.8, 127.1 and 115.3 shares issued, 112.8, 117.1 and 115.3 shares outstanding, respectively | 0.1 | 0.1 | 0.1 |
Additional paid-in-capital | 65.8 | 172.9 | 286.3 |
Accumulated other comprehensive income | 104.1 | 82.5 | 98.3 |
Retained earnings | 2,011.40 | 1,995.90 | 1,772 |
Total stockholders’ equity | 2,181.40 | 2,251.40 | 2,156.70 |
Total liabilities and stockholders’ equity | $3,763.50 | $4,091.40 | $3,438.30 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Aug. 03, 2013 |
Statement of Financial Position [Abstract] | ' | ' | ' |
Preferred stock, authorized | 5,000,000 | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 | 0 |
Class A common stock, par value | $0.00 | $0.00 | $0.00 |
Class A common stock, shares authorized | 300,000,000 | 300,000,000 | 300,000,000 |
Class A common stock, shares issued | 112,800,000 | 115,300,000 | 127,100,000 |
Class A common stock, shares outstanding | 112,800,000 | 115,300,000 | 117,100,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Operations (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Income Statement [Abstract] | ' | ' | ' | ' |
Net sales | $1,731.40 | $1,383.70 | $3,727.70 | $3,249 |
Cost of sales | 1,180.50 | 902.3 | 2,550.40 | 2,189.30 |
Gross profit | 550.9 | 481.4 | 1,177.30 | 1,059.70 |
Selling, general and administrative expenses | 475.4 | 421.6 | 956.4 | 870.8 |
Depreciation and amortization | 38.8 | 41 | 78.3 | 82.9 |
Operating earnings | 36.7 | 18.8 | 142.6 | 106 |
Interest income | -0.1 | -0.1 | -0.3 | -0.2 |
Interest expense | 1.2 | 1.4 | 2 | 2.4 |
Earnings before income tax expense | 35.6 | 17.5 | 140.9 | 103.8 |
Income tax expense | 11 | 7 | 48.3 | 38.7 |
Net income | $24.60 | $10.50 | $92.60 | $65.10 |
Basic net income per common share | $0.22 | $0.09 | $0.81 | $0.55 |
Diluted net income per common share | $0.22 | $0.09 | $0.80 | $0.55 |
Dividends per common share | $0.33 | $0.28 | $0.66 | $0.55 |
Weighted average shares of common stock outstanding — basic | 113.6 | 117.9 | 114.3 | 118.1 |
Weighted average shares of common stock outstanding — diluted | 114.3 | 119.2 | 115.1 | 119.3 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $24.60 | $10.50 | $92.60 | $65.10 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Foreign currency translation adjustment | -7.6 | -48 | 21.6 | -66.1 |
Total comprehensive income (loss) | $17 | ($37.50) | $114.20 | ($1) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements Of Changes In Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income | Retained Earnings | |
In Millions | ||||||
Beginning Balance at Feb. 02, 2013 | $2,286.30 | $0.10 | $348.30 | $164.40 | $1,773.50 | |
Beginning Balance (in shares) at Feb. 02, 2013 | ' | 118.2 | ' | ' | ' | |
Net income | 65.1 | ' | ' | ' | 65.1 | |
Foreign currency translation | -66.1 | ' | ' | -66.1 | ' | |
Dividends | [1] | -66.6 | ' | ' | ' | -66.6 |
Stock-based compensation | 11.5 | ' | 11.5 | ' | ' | |
Purchase of treasury stock (in shares) | ' | -3.4 | ' | ' | ' | |
Purchase of treasury stock | -114.4 | ' | -114.4 | ' | ' | |
Exercise of stock options and issuance of shares upon vesting of restricted stock grants (in shares) | ' | 2.3 | ' | ' | ' | |
Exercise of stock options and issuance of shares upon vesting of restricted stock grants | 40.9 | ' | 40.9 | ' | ' | |
Ending Balance at Aug. 03, 2013 | 2,156.70 | 0.1 | 286.3 | 98.3 | 1,772 | |
Ending Balance (in shares) at Aug. 03, 2013 | ' | 117.1 | ' | ' | ' | |
Beginning Balance at Feb. 01, 2014 | 2,251.40 | 0.1 | 172.9 | 82.5 | 1,995.90 | |
Beginning Balance (in shares) at Feb. 01, 2014 | ' | 115.3 | ' | ' | ' | |
Net income | 92.6 | ' | ' | ' | 92.6 | |
Foreign currency translation | 21.6 | ' | ' | 21.6 | ' | |
Dividends | [2] | -77.1 | ' | ' | ' | -77.1 |
Stock-based compensation | 12.6 | ' | 12.6 | ' | ' | |
Purchase of treasury stock (in shares) | ' | -3.2 | ' | ' | ' | |
Purchase of treasury stock | -127.7 | ' | -127.7 | ' | ' | |
Exercise of stock options and issuance of shares upon vesting of restricted stock grants (in shares) | ' | 0.7 | ' | ' | ' | |
Exercise of stock options and issuance of shares upon vesting of restricted stock grants | 8 | ' | 8 | ' | ' | |
Ending Balance at Aug. 02, 2014 | $2,181.40 | $0.10 | $65.80 | $104.10 | $2,011.40 | |
Ending Balance (in shares) at Aug. 02, 2014 | ' | 112.8 | ' | ' | ' | |
[1] | Dividends declared per common share were $0.55 in the 26 weeks ended August 3, 2013. | |||||
[2] | Dividends declared per common share were $0.66 in the 26 weeks ended August 2, 2014. |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical) (USD $) | 6 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 |
Tax benefit for exercise of employee stock options and issuance of shares upon vesting of restricted stock grants | $4.40 | $1.60 |
Dividends declared per common share | $0.66 | $0.55 |
Common Stock | ' | ' |
Dividends declared per common share | $0.66 | $0.55 |
Condensed_Consolidated_Stateme4
Condensed Consolidated Statements Of Cash Flows (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $92.60 | $65.10 |
Adjustments to reconcile net income (loss) to net cash flows provided by operating activities: | ' | ' |
Depreciation and amortization (including amounts in cost of sales) | 79.4 | 84.2 |
Stock-based compensation expense | 12.6 | 11.5 |
Deferred income taxes | -13.2 | 1 |
Excess tax benefits related to stock-based awards | -4.4 | -1.6 |
Loss on disposal of property and equipment | 2.1 | 3.4 |
Other | 20.1 | -0.9 |
Changes in operating assets and liabilities, net: | ' | ' |
Receivables, net | -4.8 | 16.9 |
Merchandise inventories | 125.8 | 142.2 |
Prepaid expenses and other current assets | -19.9 | -31.8 |
Income tax payable/receivable | -115.7 | -152.9 |
Accounts payable and accrued liabilities | -450.1 | -200 |
Changes in other long-term liabilities | 0.2 | -22.4 |
Net cash flows used in operating activities | -275.3 | -85.3 |
Cash flows from investing activities: | ' | ' |
Purchase of property and equipment | -51.5 | -47.3 |
Acquisitions, net of cash acquired of $2.5 | -43.1 | 0 |
Other | -0.9 | 1.4 |
Net cash flows used in investing activities | -95.5 | -45.9 |
Cash flows from financing activities: | ' | ' |
Repurchase of common shares | -123.8 | -114.4 |
Dividends paid | -75.7 | -66.2 |
Proceeds from the revolver | 476 | 130 |
Repayments of revolver borrowings | 266 | 80 |
Payments of financing costs | -1.3 | 0 |
Issuance of common stock, net of share repurchases for withholdings taxes | -2 | 39.3 |
Excess tax benefits related to stock-based awards | 4.4 | 3.1 |
Net cash flows provided by (used in) financing activities | 11.6 | -88.2 |
Exchange rate effect on cash and cash equivalents | 16 | -27.6 |
Net decrease in cash and cash equivalents | -343.2 | -247 |
Cash and cash equivalents at beginning of period | 536.2 | 374.4 |
Cash and cash equivalents at end of period | $193 | $127.40 |
Condensed_Consolidated_Stateme5
Condensed Consolidated Statements Of Cash Flows Condensed Consolidated Statements of Cash Flows (Parenthetical) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 |
Statement of Cash Flows [Abstract] | ' | ' |
Cash Acquired from Acquisition | $2.50 | $0 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 6 Months Ended | ||||||||||||
Aug. 02, 2014 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Summary of Significant Accounting Policies | ' | ||||||||||||
1 | Nature of Operations and Summary of Significant Accounting Policies | ||||||||||||
Background | |||||||||||||
GameStop Corp. (“GameStop,” “we,” “us,” “our,” or the “Company”) is a global family of specialty retail brands that makes the most popular technologies affordable and simple. As the world's largest multichannel video game retailer, we sell new and pre-owned video game hardware, physical and digital video game software, video game accessories, as well as new and pre-owned mobile and consumer electronics products and other merchandise primarily through our GameStop, EB Games and Micromania stores. We sell consumer electronics, mobile products and wireless services primarily through our Simply Mac, Spring Mobile and Cricket Wireless stores. As of August 2, 2014, we operated 6,698 stores, in the United States, Australia, Canada and Europe, which are primarily located in major shopping malls and strip centers. We also operate electronic commerce Web sites www.gamestop.com, www.ebgames.com.au, www.ebgames.co.nz, www.gamestop.ca, www.gamestop.it, www.gamestop.es, www.gamestop.ie, www.gamestop.de, www.gamestop.co.uk and www.micromania.fr. The network also includes: www.kongregate.com, a leading browser-based game site; Game Informer magazine, the world's leading print and digital video game publication; a digital PC game distribution platform available at www.gamestop.com/pcgames; iOS and Android mobile applications; and an online consumer electronics marketplace available at www.buymytronics.com. We also own and operate a certified Apple reseller selling Apple products in the United States under the name Simply Mac; Spring Mobile, an authorized AT&T reseller operating AT&T branded wireless retail stores in the United States; and pre-paid wireless stores under the name Cricket Wireless (an AT&T brand) as part of our expanding relationship with AT&T. We operate our business in four Video Game Brands segments: United States, Canada, Australia and Europe, and a Technology Brands segment, which was added in the fourth quarter of the fiscal year comprised of the 52 weeks ended February 1, 2014 ("fiscal 2013") and includes the operations of our Simply Mac, Spring Mobile and Cricket Wireless businesses. | |||||||||||||
Basis of Presentation and Consolidation | |||||||||||||
The unaudited condensed consolidated financial statements include our accounts and the accounts of our subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Additionally, certain reclassifications have been made to prior period amounts reflected in the condensed consolidated statements of cash flows to conform to the current period presentation. The unaudited condensed consolidated financial statements included herein reflect all adjustments (consisting only of normal, recurring adjustments) which are, in our opinion, necessary for a fair presentation of the information for the periods presented. These unaudited condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all disclosures required under GAAP for complete consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with our annual report on Form 10-K for the 52 weeks ended February 1, 2014 (the “2013 Annual Report on Form 10-K”). The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In preparing these financial statements, we have made our best estimates and judgments of certain amounts included in the financial statements, giving due consideration to materiality. Changes in the estimates and assumptions used by us could have a significant impact on our financial results. Actual results could differ from those estimates. Due to the seasonal nature of our business, the results of operations for the 13 and 26 weeks ended August 2, 2014 are not indicative of the results to be expected for the 52 weeks ending January 31, 2015 (“fiscal 2014”). | |||||||||||||
We have revised the presentation of outstanding checks in our prior period financial statements as indicated in the tables below. Previously, we reduced cash and liabilities when the checks were presented for payment and cleared our bank accounts. We now reduce cash and liabilities when the checks are released for payment. The impacts of revising our financial statements for the specified prior periods are as follows: | |||||||||||||
Consolidated Balance Sheets as of August 3, 2013: | As Previously Reported | Revision | As Revised | ||||||||||
(In millions) | |||||||||||||
Cash and cash equivalents | $ | 199.5 | $ | (72.1 | ) | $ | 127.4 | ||||||
Total current assets | 1,464.50 | (72.1 | ) | 1,392.40 | |||||||||
Total assets | 3,510.40 | (72.1 | ) | 3,438.30 | |||||||||
Accounts payable | 356.8 | (41.0 | ) | 315.8 | |||||||||
Accrued liabilities | 843.1 | (31.1 | ) | 812 | |||||||||
Total current liabilities | 1,249.90 | (72.1 | ) | 1,177.80 | |||||||||
Total liabilities | 1,353.70 | (72.1 | ) | 1,281.60 | |||||||||
Consolidated Statements of Cash Flows for the 26 weeks ended August 3, 2013: | As Previously Reported | Revision | As Revised | ||||||||||
(In millions) | |||||||||||||
Changes in operating assets and liabilities: | |||||||||||||
Accounts payable and accrued liabilities | $ | (389.3 | ) | $ | 189.3 | $ | (200.0 | ) | |||||
Net cash flows provided by operating activities | (274.6 | ) | 189.3 | (85.3 | ) | ||||||||
Cash and cash equivalents at beginning of period | 635.8 | (261.4 | ) | 374.4 | |||||||||
Cash and cash equivalents at end of period | 199.5 | (72.1 | ) | 127.4 | |||||||||
Restricted Cash | |||||||||||||
Restricted cash of $13.6 million, $10.4 million and $16.4 million as of August 2, 2014, August 3, 2013 and February 1, 2014, respectively, consists primarily of bank deposits serving as collateral for bank guarantees issued on behalf of our foreign subsidiaries and is included in other noncurrent assets in our unaudited condensed consolidated balance sheets. | |||||||||||||
Revenue Recognition | |||||||||||||
Revenue from the sales of our products is recognized at the time of sale, net of sales discounts and net of an estimated sales return reserve, based on historical return rates, with a corresponding reduction in cost of sales. Our sales return policy is generally limited to less than 30 days and as such our sales returns are, and have historically been, immaterial. | |||||||||||||
Recently Issued Accounting Pronouncements | |||||||||||||
In May 2014, as part of its ongoing efforts to assist in the convergence of U.S. GAAP and International Financial Reporting Standards (“IFRS”), the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09 related to revenue recognition. The new guidance sets forth a new five-step revenue recognition model which replaces the prior revenue recognition guidance in its entirety and is intended to eliminate numerous industry-specific pieces of revenue recognition guidance that have historically existed in U.S. GAAP. The underlying principle of the new standard is that a business or other organization will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects what it expects in exchange for the goods or services. The standard also requires more detailed disclosures and provides additional guidance for transactions that were not addressed completely in the prior accounting guidance. The ASU provides alternative methods of initial adoption and is effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is not permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements as well as the appropriate method of adoption. | |||||||||||||
In April 2014, the FASB issued ASU 2014-08 related to reporting discontinued operations and disclosures of disposals of components of an entity. Specifically, the ASU amends the definition of a discontinued operation, expands disclosure requirements for transactions that meet the definition of a discontinued operation and requires entities to disclose additional information about individually significant components that are disposed of or held for sale and do not qualify as discontinued operations. Additionally, entities will be required to reclassify assets and liabilities of a discontinued operation for all comparative periods presented in the statement of financial position and to separately present certain information related to the operating and investing cash flows of the discontinued operation, for all comparative periods, in the statement of cash flows. The ASU is effective for us beginning in the first quarter of our fiscal year ending January 30, 2016 and will be adopted on a prospective basis for all disposals (except disposals classified as held for sale prior to the adoption date) or components initially classified as held for sale in periods beginning on or after the adoption date, with early adoption permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements. |
Acquisitions_Notes
Acquisitions (Notes) | 6 Months Ended | |
Aug. 02, 2014 | ||
Business Combinations [Abstract] | ' | |
Acquisitions | ' | |
2 | Acquisitions | |
Technology Brands | ||
During the first half of fiscal 2014, in connection with the continued expansion of our Technology Brands business, Spring Mobile completed acquisitions of certain AT&T resellers and Simply Mac completed an acquisition of an authorized Apple retailer for total consideration of $45.6 million ($43.1 million net of cash acquired). We recorded an immaterial amount of goodwill related to these acquisitions. We continue to believe that our Spring Mobile and Simply Mac businesses represent important strategic growth opportunities for us within the specialty retail marketplace and also provide avenues for diversification relative to our core operations in the video game retail marketplace. |
Accounting_for_StockBased_Comp
Accounting for Stock-Based Compensation | 6 Months Ended | ||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Accounting for Stock-Based Compensation | ' | ||||||||||||||||
3 | Accounting for Stock-Based Compensation | ||||||||||||||||
The following is a summary of the stock-based awards granted during the periods indicated: | |||||||||||||||||
26 Weeks Ended August 2, 2014 | 26 Weeks Ended August 3, 2013 | ||||||||||||||||
Shares | Weighted Average | Shares | Weighted Average | ||||||||||||||
Grant Date Fair | Grant Date Fair | ||||||||||||||||
Value | Value | ||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||
Stock options – time-vested | 283 | $ | 12.37 | 457 | $ | 7.1 | |||||||||||
Restricted stock awards – time-vested | 437 | 38.64 | 916 | 24.82 | |||||||||||||
Restricted stock awards – performance-based | 182 | 38.52 | 262 | 24.82 | |||||||||||||
Total stock-based awards | 902 | 1,635 | |||||||||||||||
For stock options granted, we record stock-based compensation expense in earnings based on the grant-date fair value. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. This valuation model requires the use of subjective assumptions, including expected option life, expected volatility, expected dividend yield and expected employee forfeiture rate. We use historical data to estimate the option life, dividend yield and the employee forfeiture rate, and use historical volatility when estimating the stock price volatility. The following assumptions were used with respect to the stock options granted: | |||||||||||||||||
26 Weeks Ended | |||||||||||||||||
August 2, | August 3, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Volatility | 46.5 | % | 46.4 | % | |||||||||||||
Risk-free interest rate | 1.7 | % | 1 | % | |||||||||||||
Expected life (years) | 5.5 | 5.6 | |||||||||||||||
Expected dividend yield | 3.4 | % | 4.3 | % | |||||||||||||
Total stock-based compensation recognized in selling, general and administrative expenses was as follows for the periods indicated: | |||||||||||||||||
13 Weeks Ended | 26 Weeks Ended | ||||||||||||||||
August 2, | August 3, | August 2, | August 3, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(In millions) | |||||||||||||||||
Stock-based compensation expense | $ | 6.8 | $ | 6 | $ | 12.6 | $ | 11.5 | |||||||||
As of August 2, 2014, the unrecognized compensation expense related to the unvested portion of our stock-based awards was $43.3 million, which is expected to be recognized over a weighted average period of 2 years. The total intrinsic value of options exercised during the 13 weeks ended August 2, 2014 and the 13 weeks ended August 3, 2013 was $5.1 million and $10.5 million, respectively. The total intrinsic value of options exercised during the 26 weeks ended August 2, 2014 and the 26 weeks ended August 3, 2013 was $6.3 million and $21.1 million, respectively. |
Computation_of_Net_Income_Loss
Computation of Net Income (Loss) Per Common Share | 6 Months Ended | ||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Computation of Net Income (Loss) Per Common Share | ' | ||||||||||||||||
4 | Computation of Net Income per Common Share | ||||||||||||||||
Basic net income per common share is computed by dividing the net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income per common share is computed by dividing the net income available to common stockholders by the weighted average number of common shares outstanding and potentially dilutive securities outstanding during the period. Under the treasury stock method, potentially dilutive securities include stock options and unvested restricted stock outstanding during the period. Potentially dilutive securities are excluded from the computations of diluted earnings per share if their effect would be antidilutive. | |||||||||||||||||
A reconciliation of shares used in the computation of basic and diluted net income per common share is as follows: | |||||||||||||||||
13 Weeks Ended | 26 Weeks Ended | ||||||||||||||||
August 2, | August 3, | August 2, | August 3, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(In millions, except per share data) | |||||||||||||||||
Net income | $ | 24.6 | $ | 10.5 | $ | 92.6 | $ | 65.1 | |||||||||
Weighted average common shares outstanding | 113.6 | 117.9 | 114.3 | 118.1 | |||||||||||||
Dilutive effect of options and restricted shares on common stock(1) | 0.7 | 1.3 | 0.8 | 1.2 | |||||||||||||
Common shares and dilutive potential common shares | 114.3 | 119.2 | 115.1 | 119.3 | |||||||||||||
Net income per common share: | |||||||||||||||||
Basic | $ | 0.22 | $ | 0.09 | $ | 0.81 | $ | 0.55 | |||||||||
Diluted | $ | 0.22 | $ | 0.09 | $ | 0.8 | $ | 0.55 | |||||||||
(1) | Excludes 1.5 million, 1.6 million, 1.6 million, and 1.8 million share-based awards for the 13 weeks ended August 2, 2014, the 13 weeks ended August 3, 2013, the 26 weeks ended August 2, 2014 and the 26 weeks ended August 3, 2013, respectively, because their effects were antidilutive. |
Fair_Value_Measurements_and_Fi
Fair Value Measurements and Financial Instruments | 6 Months Ended | ||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements and Financial Instruments | ' | ||||||||||||||||
5 | Fair Value Measurements and Financial Instruments | ||||||||||||||||
Recurring Fair Value Measurements and Derivative Financial Instruments | |||||||||||||||||
Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value accounting guidance applies to our foreign currency contracts, which include forward exchange contracts, foreign currency options and cross-currency swaps, our Company-owned life insurance policies with a cash surrender value and certain nonqualified deferred compensation liabilities that are measured at fair value on a recurring basis in periods subsequent to initial recognition. | |||||||||||||||||
Fair value accounting guidance requires disclosures that categorize assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Level 2 inputs are observable inputs other than quoted prices included within Level 1 for the asset or liability, either directly or indirectly through market-corroborated inputs. Level 3 inputs are unobservable inputs for the asset or liability reflecting our assumptions about pricing by market participants. | |||||||||||||||||
We value our foreign currency contracts, Company-owned life insurance policies with cash surrender values and certain nonqualified deferred compensation liabilities based on Level 2 inputs using quotations provided by major market news services, such as Bloomberg, and industry-standard models that consider various assumptions, including quoted forward prices, time value, volatility factors, and contractual prices for the underlying instruments, as well as other relevant economic measures. When appropriate, valuations are adjusted to reflect credit considerations, generally based on available market evidence. | |||||||||||||||||
The following table provides the fair value of our assets and liabilities measured at fair value on a recurring basis and recorded on our unaudited condensed consolidated balance sheets (in millions): | |||||||||||||||||
August 2, | August 3, | February 1, | |||||||||||||||
2014 | 2013 | 2014 | |||||||||||||||
Assets | |||||||||||||||||
Foreign currency contracts | |||||||||||||||||
Other current assets | $ | 2 | $ | 2.6 | $ | 0.9 | |||||||||||
Other noncurrent assets | 3.2 | 0.3 | 0.5 | ||||||||||||||
Company-owned life insurance(1) | 7.2 | 5.4 | 7.1 | ||||||||||||||
Total assets | 12.4 | 8.3 | 8.5 | ||||||||||||||
Liabilities | |||||||||||||||||
Foreign currency contracts | |||||||||||||||||
Accrued liabilities | 7.6 | 12.8 | 21.3 | ||||||||||||||
Other long-term liabilities | 1.6 | 8 | 2.2 | ||||||||||||||
Nonqualified deferred compensation(2) | 1.1 | 1 | 1.1 | ||||||||||||||
Total liabilities | $ | 10.3 | $ | 21.8 | $ | 24.6 | |||||||||||
(1) | Recognized in other non-current assets in our unaudited condensed consolidated balance sheets. | ||||||||||||||||
(2) | Recognized in accrued liabilities in our unaudited condensed consolidated balance sheets. | ||||||||||||||||
We use foreign currency contracts to manage currency risk primarily related to intercompany loans denominated in non-functional currencies and certain foreign currency assets and liabilities. These foreign currency contracts are not designated as hedges and, therefore, changes in the fair values of these derivatives are recognized in earnings, thereby offsetting the current earnings effect of the re-measurement of related intercompany loans and foreign currency assets and liabilities. The total gross notional value of derivatives related to our foreign currency contracts was $713.4 million, $692.3 million and $640.6 million as of August 2, 2014, August 3, 2013 and February 1, 2014, respectively. | |||||||||||||||||
Activity related to the trading of derivative instruments and the offsetting impact of related intercompany loans and foreign currency assets and liabilities recognized in selling, general and administrative expense is as follows (in millions): | |||||||||||||||||
13 Weeks Ended | 26 Weeks Ended | ||||||||||||||||
August 2, | August 3, | August 2, | August 3, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Gains (losses) on the change in fair value of derivative instruments | $ | 9.1 | $ | (19.7 | ) | $ | 10.4 | $ | (10.3 | ) | |||||||
Gains (losses) on the re-measurement of related intercompany loans and foreign currency assets and liabilities | (8.4 | ) | 22.2 | (9.1 | ) | 13.4 | |||||||||||
Total | $ | 0.7 | $ | 2.5 | $ | 1.3 | $ | 3.1 | |||||||||
We do not use derivative financial instruments for trading or speculative purposes. We are exposed to counterparty credit risk on all of our derivative financial instruments and cash equivalent investments. We manage counterparty risk according to the guidelines and controls established under our comprehensive risk management and investment policies. We continuously monitor our counterparty credit risk and utilize a number of different counterparties to minimize our exposure to potential defaults. We do not require collateral under derivative or investment agreements. | |||||||||||||||||
Nonrecurring Fair Value Measurements | |||||||||||||||||
In addition to assets and liabilities that are recorded at fair value on a recurring basis, we record certain assets and liabilities at fair value on a nonrecurring basis as required by GAAP. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges. We did not record any significant impairment charges related to assets measured at fair value on a nonrecurring basis during the 13 and 26 weeks ended August 2, 2014 or August 3, 2013, respectively. | |||||||||||||||||
Other Fair Value Disclosures | |||||||||||||||||
The carrying values of our cash equivalents, receivables, net and accounts payable approximate the fair value due to their short-term maturities. |
Debt
Debt | 6 Months Ended | |
Aug. 02, 2014 | ||
Debt Disclosure [Abstract] | ' | |
Debt | ' | |
6 | Debt | |
On January 4, 2011, we entered into a $400 million credit agreement, which we amended and restated on March 25, 2014 (the “Revolver”). The Revolver is a five-year, asset-based facility that is secured by substantially all of our assets and the assets of our domestic subsidiaries. Availability under the Revolver is subject to a monthly borrowing base calculation. The Revolver includes a $50 million letter of credit sublimit. Prior to the March 2014 amendments, the Revolver was scheduled to mature in January 2016. The amendments extended the maturity date to March 25, 2019; increased the expansion feature under the Revolver from $150 million to $200 million, subject to certain conditions; and revised certain other terms, including a reduction of the fee we are required to pay on the unused portion of the total commitment amount. We believe the extension of the maturity date of the Revolver to March 2019 helps to limit our exposure to potential tightening or other adverse changes in the credit markets. | ||
Borrowing availability under the Revolver is limited to a borrowing base which allows us to borrow up to 90% of the appraisal value of the inventory, in each case plus 90% of eligible credit card receivables, net of certain reserves. The borrowing base provides for borrowing up to 92.5% of the appraisal value during the fiscal months of August through October. Letters of credit reduce the amount available to borrow under the Revolver by an amount equal to the face value of the letters of credit. Our ability to pay cash dividends, redeem options and repurchase shares is generally permitted, except under certain circumstances, including if either 1) excess availability under the Revolver is less than 30%, or is projected to be within 12 months after such payment or 2) if excess availability under the Revolver is less than 15%, or is projected to be within 12 months after such payment, and the fixed charge coverage ratio, as calculated on a pro-forma basis for the prior 12 months is 1.1:1.0 or less. In the event that excess availability under the Revolver is at any time less than the greater of (1) $30 million or (2) 10% of the lesser of the total commitment or the borrowing base, we will be subject to a fixed charge coverage ratio covenant of 1.0:1.0. | ||
The Revolver places certain restrictions on us and our subsidiaries, including limitations on asset sales, additional liens, investments, loans, guarantees, acquisitions and the incurrence of additional indebtedness. Absent consent from our lenders, we may not incur more than $1 billion of senior secured debt and $750 million of additional unsecured indebtedness to be limited to $250 million in general unsecured obligations and $500 million in unsecured obligations to finance acquisitions valued at $500 million or more. | ||
The per annum interest rate under the Revolver is variable and is calculated by applying a margin (1) for prime rate loans of 0.25% to 0.75% above the highest of (a) the prime rate of the administrative agent, (b) the federal funds effective rate plus 0.50% or (c) the London Interbank Offered (“LIBO”) rate for a 30-day interest period as determined on such day plus 1.00%, and (2) for LIBO rate loans of 1.25% to 1.75% above the LIBO rate. The applicable margin is determined quarterly as a function of our average daily excess availability under the facility. In addition, we are required to pay a commitment fee of 0.25% for any unused portion of the total commitment under the Revolver. As of August 2, 2014, the applicable margin was 0.25% for prime rate loans and 1.25% for LIBO rate loans. | ||
The Revolver provides for customary events of default with corresponding grace periods, including failure to pay any principal or interest when due, failure to comply with covenants, any material representation or warranty made by us or the borrowers proving to be false in any material respect, certain bankruptcy, insolvency or receivership events affecting us or our subsidiaries, defaults relating to certain other indebtedness, imposition of certain judgments and mergers or the liquidation of the Company or certain of its subsidiaries. During the 26 weeks ended August 2, 2014, we borrowed $476 million and subsequently repaid $266 million under the Revolver. During the 26 weeks ended August 3, 2013, we had borrowings of $130 million and repayments of $80 million under the Revolver. Average borrowings under the Revolver for the 26 weeks ended August 2, 2014 were $91.1 million. Our average interest rate on those outstanding borrowings for the 26 weeks ended August 2, 2014 was 1.7%. As of August 2, 2014, total availability under the Revolver was $181.4 million, with outstanding borrowings of $210 million and outstanding standby letters of credit of $8.3 million. We are currently in compliance with the requirements of the Revolver. | ||
In September 2007, our Luxembourg subsidiary entered into a discretionary $20.0 million Uncommitted Line of Credit (the “Line of Credit”) with Bank of America. There is no term associated with the Line of Credit and Bank of America may withdraw the facility at any time without notice. The Line of Credit is available to our foreign subsidiaries for use primarily as a bank overdraft facility for short-term liquidity needs and for the issuance of bank guarantees and letters of credit to support operations. As of August 2, 2014, there were no cash overdrafts outstanding under the Line of Credit and bank guarantees outstanding totaled $4.1 million. |
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended | |
Aug. 02, 2014 | ||
Commitments and Contingencies Disclosure [Abstract] | ' | |
Commitments and Contingencies | ' | |
7 | Commitments and Contingencies | |
In the ordinary course of business, we are, from time to time, subject to various legal proceedings, including matters involving wage and hour employee class actions and consumer class actions. We may enter into discussions regarding settlement of these and other types of lawsuits, and may enter into settlement agreements, if we believe settlement is in the best interest of our stockholders. We do not believe that any such existing legal proceedings or settlements, individually or in the aggregate, will have a material effect on our financial condition, results of operations or liquidity. |
Significant_Products
Significant Products | 6 Months Ended | ||||||||||||||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||
Significant Products | ' | ||||||||||||||||||||||||||||
8 | Significant Products | ||||||||||||||||||||||||||||
Beginning with our 2013 Annual Report on Form 10-K, we expanded the categories included in our disclosures on sales and gross profit by category to reflect recent changes in our business, the expansion of categories previously included in Other and our management emphasis as we operate in the future. Our previous categories of New Video Game Hardware and New Video Game Software remain unchanged. | |||||||||||||||||||||||||||||
We have expanded our previous category of Pre-owned Video Game Products to include value-priced, or closeout, products and this category is now referred to as the Pre-owned and Value Video Game Products category. We believe there is an opportunity to purchase closeout and overstocked inventory from publishers, distributors and other retailers which is older new product but can be acquired for less than typical new release product costs. This product can then be resold in our Video Game Brands stores and on our websites as value-priced product. Our sales of this product in the past have yielded significantly higher margins than new video game products, yet lower margins than pre-owned video game products. | |||||||||||||||||||||||||||||
In the past, all other products we sold were categorized into “Other,” which included video game accessories, digital products, new and pre-owned mobile products, consumer electronics, revenues from our PowerUp Rewards program and Game Informer subscription sales, strategy guides, toys and PC entertainment software. We are separating our historical Other category into the following new categories: | |||||||||||||||||||||||||||||
• | Video Game Accessories, which includes new accessories for use with video game consoles and hand-held devices and software, such as controllers, gaming headsets and memory cards; | ||||||||||||||||||||||||||||
• | Digital, which includes revenues from the sale of DLC, full game downloads, Xbox Live, PlayStation Plus and Nintendo network points and subscription cards, other prepaid digital currencies and time cards, Kongregate, Game Informer digital subscriptions and PC digital downloads; | ||||||||||||||||||||||||||||
• | Mobile and Consumer Electronics, which includes revenues from selling new and pre-owned mobile devices and consumer electronics in Video Game Brands stores and all revenues from our Technology Brands stores; | ||||||||||||||||||||||||||||
• | Other, which includes revenues from the sales of PC entertainment software, toys, strategy guides and revenues from PowerUp Pro loyalty members receiving Game Informer magazine in physical form. | ||||||||||||||||||||||||||||
The following tables set forth net sales and gross profit (in millions) and gross profit percentages by significant product category for the periods indicated: | |||||||||||||||||||||||||||||
13 Weeks Ended | 26 Weeks Ended | ||||||||||||||||||||||||||||
August 2, | August 3, | August 2, | August 3, | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Net | Percent | Net | Percent | Net | Percent | Net | Percent | ||||||||||||||||||||||
Sales | of Total | Sales | of Total | Sales | of Total | Sales | of Total | ||||||||||||||||||||||
Net Sales: | |||||||||||||||||||||||||||||
New video game hardware | $ | 332.3 | 19.2 | % | $ | 147.8 | 10.7 | % | $ | 770.3 | 20.7 | % | $ | 389.6 | 12 | % | |||||||||||||
New video game software | 497 | 28.7 | % | 429.8 | 31.1 | % | 1,056.90 | 28.4 | % | 1,133.00 | 34.9 | % | |||||||||||||||||
Pre-owned and value video game products | 558 | 32.2 | % | 528.7 | 38.2 | % | 1,160.90 | 31.1 | % | 1,101.30 | 33.9 | % | |||||||||||||||||
Video game accessories | 107.5 | 6.2 | % | 92 | 6.6 | % | 252.6 | 6.8 | % | 218.4 | 6.7 | % | |||||||||||||||||
Digital | 52.3 | 3 | % | 49.4 | 3.6 | % | 108.4 | 2.9 | % | 105.6 | 3.3 | % | |||||||||||||||||
Mobile and consumer electronics | 112.1 | 6.5 | % | 60.6 | 4.4 | % | 214.3 | 5.7 | % | 111.6 | 3.4 | % | |||||||||||||||||
Other | 72.2 | 4.2 | % | 75.4 | 5.4 | % | 164.3 | 4.4 | % | 189.5 | 5.8 | % | |||||||||||||||||
Total | $ | 1,731.40 | 100 | % | $ | 1,383.70 | 100 | % | $ | 3,727.70 | 100 | % | $ | 3,249.00 | 100 | % | |||||||||||||
13 Weeks Ended | 26 Weeks Ended | ||||||||||||||||||||||||||||
August 2, | August 3, | August 2, | August 3, | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Gross | Gross | Gross | Gross | Gross | Gross | Gross | Gross | ||||||||||||||||||||||
Profit | Profit | Profit | Profit | Profit | Profit | Profit | Profit | ||||||||||||||||||||||
Percent | Percent | Percent | Percent | ||||||||||||||||||||||||||
Gross Profit: | |||||||||||||||||||||||||||||
New video game hardware | $ | 31.6 | 9.5 | % | $ | 15.5 | 10.5 | % | $ | 76.2 | 9.9 | % | $ | 35.7 | 9.2 | % | |||||||||||||
New video game software | 115.7 | 23.3 | % | 98.9 | 23 | % | 242.9 | 23 | % | 247.1 | 21.8 | % | |||||||||||||||||
Pre-owned and value video game products | 262.1 | 47 | % | 250.6 | 47.4 | % | 560.5 | 48.3 | % | 521.4 | 47.3 | % | |||||||||||||||||
Video game accessories | 41.9 | 39 | % | 38.4 | 41.7 | % | 96.9 | 38.4 | % | 88.3 | 40.4 | % | |||||||||||||||||
Digital | 34 | 65 | % | 35.1 | 71.1 | % | 69.8 | 64.4 | % | 72.4 | 68.6 | % | |||||||||||||||||
Mobile and consumer electronics | 40.5 | 36.1 | % | 16.3 | 26.9 | % | 77.6 | 36.2 | % | 28.9 | 25.9 | % | |||||||||||||||||
Other | 25.1 | 34.8 | % | 26.6 | 35.3 | % | 53.4 | 32.5 | % | 65.9 | 34.8 | % | |||||||||||||||||
Total | $ | 550.9 | 31.8 | % | $ | 481.4 | 34.8 | % | $ | 1,177.30 | 31.6 | % | $ | 1,059.70 | 32.6 | % | |||||||||||||
Segment_Information
Segment Information | 6 Months Ended | ||||||||||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||||||
9 | Segment Information | ||||||||||||||||||||||||
We operate our business in four Video Game Brands segments: United States, Canada, Australia and Europe, and a Technology Brands segment, which was added in the fourth quarter of fiscal 2013 and includes the operations of our Simply Mac, Spring Mobile and Cricket Wireless businesses. We identify segments based on a combination of geographic areas and management responsibility. Each of the segments includes significant retail operations with all Video Game Brands stores engaged in the sale of new and pre-owned video game systems and software and related accessories and Technology Brand stores engaged in the sale of consumer electronics and wireless products and services. Segment results for the United States include retail operations in 50 states, the District of Columbia, Guam and Puerto Rico; the electronic commerce Web site www.gamestop.com; Game Informer magazine; the online video gaming Web site www.kongregate.com; a digital PC game distribution platform available at www.gamestop.com/pcgames; and an online consumer electronics marketplace available at www.buymytronics.com. Segment results for Canada include retail and e-commerce operations in Canada and segment results for Australia include retail and e-commerce operations in Australia and New Zealand. Segment results for Europe include retail operations in 11 European countries and e-commerce operations in six countries. The Technology Brands segment includes retail operations in the United States. We measure segment profit using operating earnings, which is defined as income from continuing operations before intercompany royalty fees, net interest expense and income taxes. Transactions between reportable segments consist primarily of royalties, management fees, intersegment loans and related interest. There were no intersegment sales during the 13 weeks ended August 2, 2014 and August 3, 2013 or the 26 weeks ended August 2, 2014 and August 3, 2013. | |||||||||||||||||||||||||
The reconciliation of segment profit to earnings before income taxes for the 13 weeks ended August 2, 2014 and August 3, 2013, respectively, is as follows (in millions): | |||||||||||||||||||||||||
13 weeks ended August 2, 2014 | United | Canada | Australia | Europe | Technology Brands | Consolidated | |||||||||||||||||||
States | |||||||||||||||||||||||||
Net sales | $ | 1,101.00 | $ | 82.9 | $ | 142.1 | $ | 335.3 | $ | 70.1 | $ | 1,731.40 | |||||||||||||
Segment operating earnings (loss) | 35.6 | 1.2 | 4.8 | (12.0 | ) | 7.1 | 36.7 | ||||||||||||||||||
Interest income | 0.1 | ||||||||||||||||||||||||
Interest expense | (1.2 | ) | |||||||||||||||||||||||
Earnings before income taxes | 35.6 | ||||||||||||||||||||||||
13 weeks ended August 3, 2013 | United | Canada | Australia | Europe | Technology Brands | Consolidated | |||||||||||||||||||
States | |||||||||||||||||||||||||
Net sales | $ | 942.4 | $ | 67.7 | $ | 112.4 | $ | 261.2 | $ | — | $ | 1,383.70 | |||||||||||||
Segment operating earnings (loss) | 43.4 | (0.7 | ) | 1.1 | (25.0 | ) | — | 18.8 | |||||||||||||||||
Interest income | 0.1 | ||||||||||||||||||||||||
Interest expense | (1.4 | ) | |||||||||||||||||||||||
Earnings before income taxes | 17.5 | ||||||||||||||||||||||||
The reconciliation of segment profit to earnings before income taxes for the 26 weeks ended August 2, 2014 and August 3, 2013, respectively, is as follows (in millions): | |||||||||||||||||||||||||
26 weeks ended August 2, 2014 | United | Canada | Australia | Europe | Technology Brands | Consolidated | |||||||||||||||||||
States | |||||||||||||||||||||||||
Net sales | $ | 2,498.70 | $ | 173.2 | $ | 258.6 | $ | 667 | $ | 130.2 | $ | 3,727.70 | |||||||||||||
Segment operating earnings (loss) | 142.2 | 3.6 | 6.5 | (22.8 | ) | 13.1 | 142.6 | ||||||||||||||||||
Interest income | 0.3 | ||||||||||||||||||||||||
Interest expense | (2.0 | ) | |||||||||||||||||||||||
Earnings before income taxes | 140.9 | ||||||||||||||||||||||||
26 weeks ended August 3, 2013 | United | Canada | Australia | Europe | Technology Brands | Consolidated | |||||||||||||||||||
States | |||||||||||||||||||||||||
Net sales | $ | 2,295.30 | $ | 155.7 | $ | 226.5 | $ | 571.5 | $ | — | $ | 3,249.00 | |||||||||||||
Segment operating earnings (loss) | 136.2 | 1.8 | 2.6 | (34.6 | ) | — | 106 | ||||||||||||||||||
Interest income | 0.2 | ||||||||||||||||||||||||
Interest expense | (2.4 | ) | |||||||||||||||||||||||
Earnings before income taxes | 103.8 | ||||||||||||||||||||||||
Subsequent_Events
Subsequent Events | 6 Months Ended | |
Aug. 02, 2014 | ||
Subsequent Events [Abstract] | ' | |
Subsequent Events | ' | |
10 | Subsequent Events | |
Dividend | ||
On August 19, 2014, our Board of Directors approved a quarterly cash dividend to our stockholders of $0.33 per share of Class A Common Stock payable on September 16, 2014 to stockholders of record at the close of business on September 3, 2014. Future dividends will be subject to approval by our Board of Directors. | ||
Share Repurchases | ||
As of August 29, 2014, we have purchased an additional 0.1 million shares of our Class A Common Stock for an average price per share of $41.48 since August 2, 2014. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Aug. 02, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Background | |
GameStop Corp. (“GameStop,” “we,” “us,” “our,” or the “Company”) is a global family of specialty retail brands that makes the most popular technologies affordable and simple. As the world's largest multichannel video game retailer, we sell new and pre-owned video game hardware, physical and digital video game software, video game accessories, as well as new and pre-owned mobile and consumer electronics products and other merchandise primarily through our GameStop, EB Games and Micromania stores. We sell consumer electronics, mobile products and wireless services primarily through our Simply Mac, Spring Mobile and Cricket Wireless stores. As of August 2, 2014, we operated 6,698 stores, in the United States, Australia, Canada and Europe, which are primarily located in major shopping malls and strip centers. We also operate electronic commerce Web sites www.gamestop.com, www.ebgames.com.au, www.ebgames.co.nz, www.gamestop.ca, www.gamestop.it, www.gamestop.es, www.gamestop.ie, www.gamestop.de, www.gamestop.co.uk and www.micromania.fr. The network also includes: www.kongregate.com, a leading browser-based game site; Game Informer magazine, the world's leading print and digital video game publication; a digital PC game distribution platform available at www.gamestop.com/pcgames; iOS and Android mobile applications; and an online consumer electronics marketplace available at www.buymytronics.com. We also own and operate a certified Apple reseller selling Apple products in the United States under the name Simply Mac; Spring Mobile, an authorized AT&T reseller operating AT&T branded wireless retail stores in the United States; and pre-paid wireless stores under the name Cricket Wireless (an AT&T brand) as part of our expanding relationship with AT&T. We operate our business in four Video Game Brands segments: United States, Canada, Australia and Europe, and a Technology Brands segment, which was added in the fourth quarter of the fiscal year comprised of the 52 weeks ended February 1, 2014 ("fiscal 2013") and includes the operations of our Simply Mac, Spring Mobile and Cricket Wireless businesses. | |
Basis of Presentation and Consolidation | |
The unaudited condensed consolidated financial statements include our accounts and the accounts of our subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Additionally, certain reclassifications have been made to prior period amounts reflected in the condensed consolidated statements of cash flows to conform to the current period presentation. The unaudited condensed consolidated financial statements included herein reflect all adjustments (consisting only of normal, recurring adjustments) which are, in our opinion, necessary for a fair presentation of the information for the periods presented. These unaudited condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all disclosures required under GAAP for complete consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with our annual report on Form 10-K for the 52 weeks ended February 1, 2014 (the “2013 Annual Report on Form 10-K”). The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In preparing these financial statements, we have made our best estimates and judgments of certain amounts included in the financial statements, giving due consideration to materiality. Changes in the estimates and assumptions used by us could have a significant impact on our financial results. Actual results could differ from those estimates. Due to the seasonal nature of our business, the results of operations for the 13 and 26 weeks ended August 2, 2014 are not indicative of the results to be expected for the 52 weeks ending January 31, 2015 (“fiscal 2014”). | |
Restricted Cash | ' |
Restricted Cash | |
Restricted cash of $13.6 million, $10.4 million and $16.4 million as of August 2, 2014, August 3, 2013 and February 1, 2014, respectively, consists primarily of bank deposits serving as collateral for bank guarantees issued on behalf of our foreign subsidiaries and is included in other noncurrent assets in our unaudited condensed consolidated balance sheets. | |
Revenue Recognition | ' |
Revenue Recognition | |
Revenue from the sales of our products is recognized at the time of sale, net of sales discounts and net of an estimated sales return reserve, based on historical return rates, with a corresponding reduction in cost of sales. Our sales return policy is generally limited to less than 30 days and as such our sales returns are, and have historically been, immaterial. | |
Recently Adopted Accounting Standards | ' |
Recently Issued Accounting Pronouncements | |
In May 2014, as part of its ongoing efforts to assist in the convergence of U.S. GAAP and International Financial Reporting Standards (“IFRS”), the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09 related to revenue recognition. The new guidance sets forth a new five-step revenue recognition model which replaces the prior revenue recognition guidance in its entirety and is intended to eliminate numerous industry-specific pieces of revenue recognition guidance that have historically existed in U.S. GAAP. The underlying principle of the new standard is that a business or other organization will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects what it expects in exchange for the goods or services. The standard also requires more detailed disclosures and provides additional guidance for transactions that were not addressed completely in the prior accounting guidance. The ASU provides alternative methods of initial adoption and is effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is not permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements as well as the appropriate method of adoption. | |
In April 2014, the FASB issued ASU 2014-08 related to reporting discontinued operations and disclosures of disposals of components of an entity. Specifically, the ASU amends the definition of a discontinued operation, expands disclosure requirements for transactions that meet the definition of a discontinued operation and requires entities to disclose additional information about individually significant components that are disposed of or held for sale and do not qualify as discontinued operations. Additionally, entities will be required to reclassify assets and liabilities of a discontinued operation for all comparative periods presented in the statement of financial position and to separately present certain information related to the operating and investing cash flows of the discontinued operation, for all comparative periods, in the statement of cash flows. The ASU is effective for us beginning in the first quarter of our fiscal year ending January 30, 2016 and will be adopted on a prospective basis for all disposals (except disposals classified as held for sale prior to the adoption date) or components initially classified as held for sale in periods beginning on or after the adoption date, with early adoption permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 6 Months Ended | ||||||||||||
Aug. 02, 2014 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Schedule of Error Corrections and Prior Period Adjustments | ' | ||||||||||||
We have revised the presentation of outstanding checks in our prior period financial statements as indicated in the tables below. Previously, we reduced cash and liabilities when the checks were presented for payment and cleared our bank accounts. We now reduce cash and liabilities when the checks are released for payment. The impacts of revising our financial statements for the specified prior periods are as follows: | |||||||||||||
Consolidated Balance Sheets as of August 3, 2013: | As Previously Reported | Revision | As Revised | ||||||||||
(In millions) | |||||||||||||
Cash and cash equivalents | $ | 199.5 | $ | (72.1 | ) | $ | 127.4 | ||||||
Total current assets | 1,464.50 | (72.1 | ) | 1,392.40 | |||||||||
Total assets | 3,510.40 | (72.1 | ) | 3,438.30 | |||||||||
Accounts payable | 356.8 | (41.0 | ) | 315.8 | |||||||||
Accrued liabilities | 843.1 | (31.1 | ) | 812 | |||||||||
Total current liabilities | 1,249.90 | (72.1 | ) | 1,177.80 | |||||||||
Total liabilities | 1,353.70 | (72.1 | ) | 1,281.60 | |||||||||
Consolidated Statements of Cash Flows for the 26 weeks ended August 3, 2013: | As Previously Reported | Revision | As Revised | ||||||||||
(In millions) | |||||||||||||
Changes in operating assets and liabilities: | |||||||||||||
Accounts payable and accrued liabilities | $ | (389.3 | ) | $ | 189.3 | $ | (200.0 | ) | |||||
Net cash flows provided by operating activities | (274.6 | ) | 189.3 | (85.3 | ) | ||||||||
Cash and cash equivalents at beginning of period | 635.8 | (261.4 | ) | 374.4 | |||||||||
Cash and cash equivalents at end of period | 199.5 | (72.1 | ) | 127.4 | |||||||||
Accounting_for_StockBased_Comp1
Accounting for Stock-Based Compensation (Tables) | 6 Months Ended | ||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Summary of Stock-Based Awards Granted | ' | ||||||||||||||||
The following is a summary of the stock-based awards granted during the periods indicated: | |||||||||||||||||
26 Weeks Ended August 2, 2014 | 26 Weeks Ended August 3, 2013 | ||||||||||||||||
Shares | Weighted Average | Shares | Weighted Average | ||||||||||||||
Grant Date Fair | Grant Date Fair | ||||||||||||||||
Value | Value | ||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||
Stock options – time-vested | 283 | $ | 12.37 | 457 | $ | 7.1 | |||||||||||
Restricted stock awards – time-vested | 437 | 38.64 | 916 | 24.82 | |||||||||||||
Restricted stock awards – performance-based | 182 | 38.52 | 262 | 24.82 | |||||||||||||
Total stock-based awards | 902 | 1,635 | |||||||||||||||
Assumptions used on Stock Options Granted | ' | ||||||||||||||||
The following assumptions were used with respect to the stock options granted: | |||||||||||||||||
26 Weeks Ended | |||||||||||||||||
August 2, | August 3, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Volatility | 46.5 | % | 46.4 | % | |||||||||||||
Risk-free interest rate | 1.7 | % | 1 | % | |||||||||||||
Expected life (years) | 5.5 | 5.6 | |||||||||||||||
Expected dividend yield | 3.4 | % | 4.3 | % | |||||||||||||
Stock-Based Compensation Recognized in Selling, General and Administrative Expenses | ' | ||||||||||||||||
Total stock-based compensation recognized in selling, general and administrative expenses was as follows for the periods indicated: | |||||||||||||||||
13 Weeks Ended | 26 Weeks Ended | ||||||||||||||||
August 2, | August 3, | August 2, | August 3, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(In millions) | |||||||||||||||||
Stock-based compensation expense | $ | 6.8 | $ | 6 | $ | 12.6 | $ | 11.5 | |||||||||
Computation_of_Net_Income_Loss1
Computation of Net Income (Loss) Per Common Share (Tables) | 6 Months Ended | ||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Reconciliation of Shares Used in Calculating Basic and Diluted Net Income (Loss) Per Common Share | ' | ||||||||||||||||
A reconciliation of shares used in the computation of basic and diluted net income per common share is as follows: | |||||||||||||||||
13 Weeks Ended | 26 Weeks Ended | ||||||||||||||||
August 2, | August 3, | August 2, | August 3, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(In millions, except per share data) | |||||||||||||||||
Net income | $ | 24.6 | $ | 10.5 | $ | 92.6 | $ | 65.1 | |||||||||
Weighted average common shares outstanding | 113.6 | 117.9 | 114.3 | 118.1 | |||||||||||||
Dilutive effect of options and restricted shares on common stock(1) | 0.7 | 1.3 | 0.8 | 1.2 | |||||||||||||
Common shares and dilutive potential common shares | 114.3 | 119.2 | 115.1 | 119.3 | |||||||||||||
Net income per common share: | |||||||||||||||||
Basic | $ | 0.22 | $ | 0.09 | $ | 0.81 | $ | 0.55 | |||||||||
Diluted | $ | 0.22 | $ | 0.09 | $ | 0.8 | $ | 0.55 | |||||||||
(1) | Excludes 1.5 million, 1.6 million, 1.6 million, and 1.8 million share-based awards for the 13 weeks ended August 2, 2014, the 13 weeks ended August 3, 2013, the 26 weeks ended August 2, 2014 and the 26 weeks ended August 3, 2013, respectively, because their effects were antidilutive. |
Fair_Value_Measurements_and_Fi1
Fair Value Measurements and Financial Instruments (Tables) | 6 Months Ended | ||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value of Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
The following table provides the fair value of our assets and liabilities measured at fair value on a recurring basis and recorded on our unaudited condensed consolidated balance sheets (in millions): | |||||||||||||||||
August 2, | August 3, | February 1, | |||||||||||||||
2014 | 2013 | 2014 | |||||||||||||||
Assets | |||||||||||||||||
Foreign currency contracts | |||||||||||||||||
Other current assets | $ | 2 | $ | 2.6 | $ | 0.9 | |||||||||||
Other noncurrent assets | 3.2 | 0.3 | 0.5 | ||||||||||||||
Company-owned life insurance(1) | 7.2 | 5.4 | 7.1 | ||||||||||||||
Total assets | 12.4 | 8.3 | 8.5 | ||||||||||||||
Liabilities | |||||||||||||||||
Foreign currency contracts | |||||||||||||||||
Accrued liabilities | 7.6 | 12.8 | 21.3 | ||||||||||||||
Other long-term liabilities | 1.6 | 8 | 2.2 | ||||||||||||||
Nonqualified deferred compensation(2) | 1.1 | 1 | 1.1 | ||||||||||||||
Total liabilities | $ | 10.3 | $ | 21.8 | $ | 24.6 | |||||||||||
Gains and Losses on Derivative Instruments and Foreign Currency Transaction | ' | ||||||||||||||||
Activity related to the trading of derivative instruments and the offsetting impact of related intercompany loans and foreign currency assets and liabilities recognized in selling, general and administrative expense is as follows (in millions): | |||||||||||||||||
13 Weeks Ended | 26 Weeks Ended | ||||||||||||||||
August 2, | August 3, | August 2, | August 3, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Gains (losses) on the change in fair value of derivative instruments | $ | 9.1 | $ | (19.7 | ) | $ | 10.4 | $ | (10.3 | ) | |||||||
Gains (losses) on the re-measurement of related intercompany loans and foreign currency assets and liabilities | (8.4 | ) | 22.2 | (9.1 | ) | 13.4 | |||||||||||
Total | $ | 0.7 | $ | 2.5 | $ | 1.3 | $ | 3.1 | |||||||||
Significant_Products_Tables
Significant Products (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||
Sales and Percentage of Total Net Sales by Significant Product Category | ' | ||||||||||||||||||||||||||||
The following tables set forth net sales and gross profit (in millions) and gross profit percentages by significant product category for the periods indicated: | |||||||||||||||||||||||||||||
13 Weeks Ended | 26 Weeks Ended | ||||||||||||||||||||||||||||
August 2, | August 3, | August 2, | August 3, | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Net | Percent | Net | Percent | Net | Percent | Net | Percent | ||||||||||||||||||||||
Sales | of Total | Sales | of Total | Sales | of Total | Sales | of Total | ||||||||||||||||||||||
Net Sales: | |||||||||||||||||||||||||||||
New video game hardware | $ | 332.3 | 19.2 | % | $ | 147.8 | 10.7 | % | $ | 770.3 | 20.7 | % | $ | 389.6 | 12 | % | |||||||||||||
New video game software | 497 | 28.7 | % | 429.8 | 31.1 | % | 1,056.90 | 28.4 | % | 1,133.00 | 34.9 | % | |||||||||||||||||
Pre-owned and value video game products | 558 | 32.2 | % | 528.7 | 38.2 | % | 1,160.90 | 31.1 | % | 1,101.30 | 33.9 | % | |||||||||||||||||
Video game accessories | 107.5 | 6.2 | % | 92 | 6.6 | % | 252.6 | 6.8 | % | 218.4 | 6.7 | % | |||||||||||||||||
Digital | 52.3 | 3 | % | 49.4 | 3.6 | % | 108.4 | 2.9 | % | 105.6 | 3.3 | % | |||||||||||||||||
Mobile and consumer electronics | 112.1 | 6.5 | % | 60.6 | 4.4 | % | 214.3 | 5.7 | % | 111.6 | 3.4 | % | |||||||||||||||||
Other | 72.2 | 4.2 | % | 75.4 | 5.4 | % | 164.3 | 4.4 | % | 189.5 | 5.8 | % | |||||||||||||||||
Total | $ | 1,731.40 | 100 | % | $ | 1,383.70 | 100 | % | $ | 3,727.70 | 100 | % | $ | 3,249.00 | 100 | % | |||||||||||||
Gross Profit and Gross Profit Percentages by Significant Product Category | ' | ||||||||||||||||||||||||||||
13 Weeks Ended | 26 Weeks Ended | ||||||||||||||||||||||||||||
August 2, | August 3, | August 2, | August 3, | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Gross | Gross | Gross | Gross | Gross | Gross | Gross | Gross | ||||||||||||||||||||||
Profit | Profit | Profit | Profit | Profit | Profit | Profit | Profit | ||||||||||||||||||||||
Percent | Percent | Percent | Percent | ||||||||||||||||||||||||||
Gross Profit: | |||||||||||||||||||||||||||||
New video game hardware | $ | 31.6 | 9.5 | % | $ | 15.5 | 10.5 | % | $ | 76.2 | 9.9 | % | $ | 35.7 | 9.2 | % | |||||||||||||
New video game software | 115.7 | 23.3 | % | 98.9 | 23 | % | 242.9 | 23 | % | 247.1 | 21.8 | % | |||||||||||||||||
Pre-owned and value video game products | 262.1 | 47 | % | 250.6 | 47.4 | % | 560.5 | 48.3 | % | 521.4 | 47.3 | % | |||||||||||||||||
Video game accessories | 41.9 | 39 | % | 38.4 | 41.7 | % | 96.9 | 38.4 | % | 88.3 | 40.4 | % | |||||||||||||||||
Digital | 34 | 65 | % | 35.1 | 71.1 | % | 69.8 | 64.4 | % | 72.4 | 68.6 | % | |||||||||||||||||
Mobile and consumer electronics | 40.5 | 36.1 | % | 16.3 | 26.9 | % | 77.6 | 36.2 | % | 28.9 | 25.9 | % | |||||||||||||||||
Other | 25.1 | 34.8 | % | 26.6 | 35.3 | % | 53.4 | 32.5 | % | 65.9 | 34.8 | % | |||||||||||||||||
Total | $ | 550.9 | 31.8 | % | $ | 481.4 | 34.8 | % | $ | 1,177.30 | 31.6 | % | $ | 1,059.70 | 32.6 | % | |||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Sales by Segment | ' | ||||||||||||||||||||||||
13 weeks ended August 2, 2014 | United | Canada | Australia | Europe | Technology Brands | Consolidated | |||||||||||||||||||
States | |||||||||||||||||||||||||
Net sales | $ | 1,101.00 | $ | 82.9 | $ | 142.1 | $ | 335.3 | $ | 70.1 | $ | 1,731.40 | |||||||||||||
Segment operating earnings (loss) | 35.6 | 1.2 | 4.8 | (12.0 | ) | 7.1 | 36.7 | ||||||||||||||||||
Interest income | 0.1 | ||||||||||||||||||||||||
Interest expense | (1.2 | ) | |||||||||||||||||||||||
Earnings before income taxes | 35.6 | ||||||||||||||||||||||||
26 weeks ended August 3, 2013 | United | Canada | Australia | Europe | Technology Brands | Consolidated | |||||||||||||||||||
States | |||||||||||||||||||||||||
Net sales | $ | 2,295.30 | $ | 155.7 | $ | 226.5 | $ | 571.5 | $ | — | $ | 3,249.00 | |||||||||||||
Segment operating earnings (loss) | 136.2 | 1.8 | 2.6 | (34.6 | ) | — | 106 | ||||||||||||||||||
Interest income | 0.2 | ||||||||||||||||||||||||
Interest expense | (2.4 | ) | |||||||||||||||||||||||
Earnings before income taxes | 103.8 | ||||||||||||||||||||||||
26 weeks ended August 2, 2014 | United | Canada | Australia | Europe | Technology Brands | Consolidated | |||||||||||||||||||
States | |||||||||||||||||||||||||
Net sales | $ | 2,498.70 | $ | 173.2 | $ | 258.6 | $ | 667 | $ | 130.2 | $ | 3,727.70 | |||||||||||||
Segment operating earnings (loss) | 142.2 | 3.6 | 6.5 | (22.8 | ) | 13.1 | 142.6 | ||||||||||||||||||
Interest income | 0.3 | ||||||||||||||||||||||||
Interest expense | (2.0 | ) | |||||||||||||||||||||||
Earnings before income taxes | 140.9 | ||||||||||||||||||||||||
13 weeks ended August 3, 2013 | United | Canada | Australia | Europe | Technology Brands | Consolidated | |||||||||||||||||||
States | |||||||||||||||||||||||||
Net sales | $ | 942.4 | $ | 67.7 | $ | 112.4 | $ | 261.2 | $ | — | $ | 1,383.70 | |||||||||||||
Segment operating earnings (loss) | 43.4 | (0.7 | ) | 1.1 | (25.0 | ) | — | 18.8 | |||||||||||||||||
Interest income | 0.1 | ||||||||||||||||||||||||
Interest expense | (1.4 | ) | |||||||||||||||||||||||
Earnings before income taxes | 17.5 | ||||||||||||||||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Narrative (Detail) (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Aug. 03, 2013 | Aug. 02, 2014 |
In Millions, unless otherwise specified | Store | Video Game Brands | ||
Segment | ||||
Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Number of Stores | 6,698 | ' | ' | ' |
Number of Operating Segments | ' | ' | ' | 4 |
Restricted cash | $13.60 | $16.40 | $10.40 | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Schedule of Prior Period Adjustments (Details) (USD $) | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Feb. 01, 2014 |
Statement of Financial Position [Abstract] | ' | ' | ' |
Cash and cash equivalents | $193 | $127.40 | ' |
Total current assets | 1,586.30 | 1,392.40 | 1,949.60 |
Total assets | 3,763.50 | 3,438.30 | 4,091.40 |
Accounts payable | 460.8 | 315.8 | 783.9 |
Accrued liabilities | 743.1 | 812 | 861.7 |
Total current liabilities | 1,447.70 | 1,177.80 | 1,726 |
Total liabilities | 1,582.10 | 1,281.60 | 1,840 |
Statement of Cash Flows [Abstract] | ' | ' | ' |
Accounts payable and accrued liabilities | -450.1 | -200 | ' |
Net cash flows provided by operating activities | -275.3 | -85.3 | ' |
Cash and cash equivalents at beginning of period | 536.2 | 374.4 | ' |
Cash and cash equivalents at end of period | 193 | 127.4 | ' |
Scenario, Previously Reported | ' | ' | ' |
Statement of Financial Position [Abstract] | ' | ' | ' |
Cash and cash equivalents | ' | 199.5 | ' |
Total current assets | ' | 1,464.50 | ' |
Total assets | ' | 3,510.40 | ' |
Accounts payable | ' | 356.8 | ' |
Accrued liabilities | ' | 843.1 | ' |
Total current liabilities | ' | 1,249.90 | ' |
Total liabilities | ' | 1,353.70 | ' |
Statement of Cash Flows [Abstract] | ' | ' | ' |
Accounts payable and accrued liabilities | ' | -389.3 | ' |
Net cash flows provided by operating activities | ' | -274.6 | ' |
Cash and cash equivalents at beginning of period | ' | 635.8 | ' |
Cash and cash equivalents at end of period | ' | 199.5 | ' |
Restatement Adjustment | ' | ' | ' |
Statement of Financial Position [Abstract] | ' | ' | ' |
Cash and cash equivalents | ' | -72.1 | ' |
Total current assets | ' | -72.1 | ' |
Total assets | ' | -72.1 | ' |
Accounts payable | ' | -41 | ' |
Accrued liabilities | ' | -31.1 | ' |
Total current liabilities | ' | -72.1 | ' |
Total liabilities | ' | -72.1 | ' |
Statement of Cash Flows [Abstract] | ' | ' | ' |
Accounts payable and accrued liabilities | ' | 189.3 | ' |
Net cash flows provided by operating activities | ' | 189.3 | ' |
Cash and cash equivalents at beginning of period | ' | -261.4 | ' |
Cash and cash equivalents at end of period | ' | ($72.10) | ' |
Acquisitions_Narrative_Details
Acquisitions - Narrative (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 |
Business Acquisition [Line Items] | ' | ' |
Total consideration paid, net of cash received | $43.10 | $0 |
Technology Brands | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Total consideration paid | 45.6 | ' |
Total consideration paid, net of cash received | $43.10 | ' |
Accounting_for_StockBased_Comp2
Accounting for Stock-Based Compensation - Summary of Stock-Based Awards Granted (Detail) (USD $) | 6 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Total Stock-Based Awards | 902 | 1,635 |
Stock options - time-vested | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Stock Options | 283 | 457 |
Weighted-Average Grant Date Fair Value, Options | 12.37 | 7.1 |
Restricted stock awards - time-vested | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Restricted Stock Awards | 437 | 916 |
Weighted-Average Grant Date Fair Value, Awards Other than Options | 38.64 | 24.82 |
Restricted stock awards - performance-based | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Restricted Stock Awards | 182 | 262 |
Weighted-Average Grant Date Fair Value, Awards Other than Options | 38.52 | 24.82 |
Accounting_for_StockBased_Comp3
Accounting for Stock-Based Compensation - Assumptions used on Stock Options Granted (Detail) | 6 Months Ended | |
Aug. 02, 2014 | Aug. 03, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' |
Volatility | 46.50% | 46.40% |
Risk-free interest rate | 1.70% | 1.00% |
Expected life (years) | '5 years 6 months 5 days | '5 years 7 months 6 days |
Expected dividend yield | 3.40% | 4.30% |
Accounting_for_StockBased_Comp4
Accounting for Stock-Based Compensation - Stock-Based Compensation Recognized in Selling, General and Administrative Expenses (Detail) (Selling, General and Administrative Expense, USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Selling, General and Administrative Expense | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | $6.80 | $6 | $12.60 | $11.50 |
Accounting_for_StockBased_Comp5
Accounting for Stock-Based Compensation - Narrative (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1.5 | 1.6 | 1.6 | 1.8 |
Stock options - time-vested | ' | ' | ' | ' |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | ' | ' | ' | ' |
Unrecognized compensation expense | 43.3 | ' | 43.3 | ' |
Weighted average period related to unrecognized compensation expense | ' | ' | '2 years | ' |
Total intrinsic values of options exercised during the period | 5.1 | 10.5 | 6.3 | 21.1 |
Computation_of_Net_Income_Loss2
Computation of Net Income (Loss) Per Common Share - Reconciliation of Common Shares Used in Calculating Basic and Diluted Net Income (Loss) Per Common Share (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Equity [Abstract] | ' | ' | ' | ' |
Net income | $24.60 | $10.50 | $92.60 | $65.10 |
Weighted average common shares outstanding | 113.6 | 117.9 | 114.3 | 118.1 |
Dilutive effect of options and restricted shares on common stock(1) | 0.7 | 1.3 | 0.8 | 1.2 |
Common shares and dilutive potential common shares | 114.3 | 119.2 | 115.1 | 119.3 |
Net income (loss) per common share: | ' | ' | ' | ' |
Basic | $0.22 | $0.09 | $0.81 | $0.55 |
Diluted | $0.22 | $0.09 | $0.80 | $0.55 |
Computation_of_Net_Income_Loss3
Computation of Net Income (Loss) Per Common Share - Reconciliation of Common Shares Used in Calculating Basic and Diluted Net Income (Loss) Per Common Share (Parenthetical) (Detail) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Equity [Abstract] | ' | ' | ' | ' |
Antidilutive restricted shares and options excluded from computation of EPS | 1.5 | 1.6 | 1.6 | 1.8 |
Fair_Value_Measurements_and_Fi2
Fair Value Measurements and Financial Instruments - Fair Value of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (Fair Value, Measurements, Recurring, USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Aug. 03, 2013 | |||
In Millions, unless otherwise specified | ||||||
Assets | ' | ' | ' | |||
Company-owned life insurance | $7.20 | [1] | $7.10 | [1] | $5.40 | [1] |
Total assets | 12.4 | 8.5 | 8.3 | |||
Liabilities | ' | ' | ' | |||
Nonqualified deferred compensation | 1.1 | [2] | 1.1 | [2] | 1 | [2] |
Total liabilities | 10.3 | 24.6 | 21.8 | |||
Other current assets | ' | ' | ' | |||
Assets | ' | ' | ' | |||
Foreign Currency Contracts | 2 | 0.9 | 2.6 | |||
Other noncurrent assets | ' | ' | ' | |||
Assets | ' | ' | ' | |||
Foreign Currency Contracts | 3.2 | 0.5 | 0.3 | |||
Accrued liabilities | ' | ' | ' | |||
Liabilities | ' | ' | ' | |||
Foreign Currency Contracts | 7.6 | 21.3 | 12.8 | |||
Other long-term liabilities | ' | ' | ' | |||
Liabilities | ' | ' | ' | |||
Foreign Currency Contracts | $1.60 | $2.20 | $8 | |||
[1] | (1)Â Recognized in other non-current assets in our unaudited condensed consolidated balance sheets. | |||||
[2] | (2)Â Recognized in accrued liabilities in our unaudited condensed consolidated balance sheets. |
Fair_Value_Measurements_and_Fi3
Fair Value Measurements and Financial Instruments - Gains and Losses on Derivative Instruments and Foreign Currency Transaction (Detail) (Selling, General and Administrative Expense, USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Selling, General and Administrative Expense | ' | ' | ' | ' |
Fair Value Derivative Contract Assets and Liabilities Measured On Recurring Basis Gain Loss Included In Earnings [Line Items] | ' | ' | ' | ' |
Gains (losses) on the changes in fair value of derivative instruments | $9.10 | ($19.70) | $10.40 | ($10.30) |
Gains (losses) on the re-measurement of related intercompany loans and foreign currency assets and liabilities | -8.4 | 22.2 | -9.1 | 13.4 |
Total | $0.70 | $2.50 | $1.30 | $3.10 |
Fair_Value_Measurements_and_Fi4
Fair Value Measurements and Financial Instruments - Narrative (Detail) (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Aug. 03, 2013 |
In Millions, unless otherwise specified | |||
Fair Value Disclosures [Abstract] | ' | ' | ' |
Notional value of foreign currency derivatives gross | $713.40 | $640.60 | $692.30 |
Debt_Narrative_Detail
Debt - Narrative (Detail) (USD $) | 6 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||||||
Aug. 02, 2014 | Aug. 03, 2013 | Sep. 30, 2007 | Aug. 02, 2014 | Aug. 02, 2014 | Mar. 25, 2014 | Jan. 04, 2011 | Mar. 25, 2014 | Mar. 25, 2014 | Mar. 25, 2014 | Mar. 25, 2014 | Mar. 25, 2014 | Aug. 02, 2014 | Mar. 25, 2014 | Mar. 25, 2014 | Mar. 25, 2014 | Aug. 02, 2014 | Mar. 25, 2014 | Mar. 25, 2014 | Mar. 25, 2014 | |
LUXEMBOURG | LUXEMBOURG | Five Year Revolving Credit Facility | Five Year Revolving Credit Facility | Five Year Revolving Credit Facility | Amended Five Year Revolving Credit Facility | Amended Five Year Revolving Credit Facility | Amended Five Year Revolving Credit Facility | Amended Five Year Revolving Credit Facility | Amended Five Year Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | London Interbank Offered Rate (LIBOR) | London Interbank Offered Rate (LIBOR) | London Interbank Offered Rate (LIBOR) | Prime Rate | Prime Rate | Prime Rate | Federal Funds Rate | |||
Minimum | Secured Debt | Unsecured Debt | Letter of Credit, sublimit | Five Year Revolving Credit Facility | Amended Five Year Revolving Credit Facility | Amended Five Year Revolving Credit Facility | Amended Five Year Revolving Credit Facility | Five Year Revolving Credit Facility | Amended Five Year Revolving Credit Facility | Amended Five Year Revolving Credit Facility | Amended Five Year Revolving Credit Facility | |||||||||
Minimum | Maximum | Minimum | Maximum | |||||||||||||||||
Debt Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit, current borrowing capacity | ' | ' | $20,000,000 | ' | ' | ' | $400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit, maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit, term | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility additional borrowing capacity | ' | ' | ' | ' | ' | 150,000,000 | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility maturity date | ' | ' | ' | ' | '2016-01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, asset restrictions | ' | ' | ' | ' | 'Availability to borrow under the Revolver is limited to a borrowing base which allows us to borrow up to 90% of the appraisal value of the inventory, in each case plus 90% of eligible credit card receivables, net of certain reserves. Letters of credit reduce the amount available to borrow under the Revolver by an amount equal to the face value of the letters of credit. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, dividend restrictions | ' | ' | ' | ' | 'Our ability to pay cash dividends, redeem options and repurchase shares is generally permitted, except under certain circumstances, including if Revolver excess availability is less than 20%, or is projected to be within 12 months after such payment. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, covenant terms | ' | ' | ' | ' | 'In the event that excess availability under the Revolver is at any time less than the greater of (1) $40.0 million or (2) 12.5% of the lesser of the total commitment or the borrowing base, we will be subject to a fixed charge coverage ratio covenant of 1.11.0. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, maximum borrowing capacity percentage | ' | ' | ' | ' | ' | ' | ' | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity, Credit Card Receivables, Percentage | ' | ' | ' | ' | ' | ' | ' | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity, Expected Percentage | ' | ' | ' | ' | ' | ' | ' | 92.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold for revolver excess availability | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Projected revolver usage percentage of the borrowing base during the prospective 12-month period, which is subject to meeting a fixed charge coverage ratio | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pro Forma, Fixed Charge Coverage Ratio | ' | ' | ' | ' | ' | ' | ' | 1.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed charge coverage ratio | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitment or the borrowing base, amount | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lesser of the total commitment or the borrowing base, percentage | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate Margin | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25% | 1.75% | ' | 0.25% | 0.75% | ' |
Percentage in addition to the effective rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | 0.50% |
Line of credit facility unused capacity commitment fee percentage | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Applicable margin rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25% | ' | ' | ' | 0.25% | ' | ' | ' |
Line of credit, maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | 750,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line Of Credit facility, for general unsecured obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line Of credit facility, available for finance acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from the revolver | 476,000,000 | 130,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of revolver borrowings | 266,000,000 | 80,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding balance under revolving credit Facility | 210,000,000 | ' | ' | ' | 210,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average borrowings under revolver | 91,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average interest rate under revolver | 1.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total availability under the revolver | 181,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit outstanding | 8,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit agreement, date | ' | ' | '2007-09 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash overdrafts outstanding | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bank guarantees outstanding | ' | ' | ' | $4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Significant_Products_Sales_and
Significant Products - Sales and Percentage of Total Net Sales by Significant Product Category (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | $1,731.40 | $1,383.70 | $3,727.70 | $3,249 |
Percent of Total | 100.00% | 100.00% | 100.00% | 100.00% |
New Video Game Hardware | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | 332.3 | 147.8 | 770.3 | 389.6 |
Percent of Total | 19.20% | 10.70% | 20.70% | 12.00% |
New Video Game Software | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | 497 | 429.8 | 1,056.90 | 1,133 |
Percent of Total | 28.70% | 31.10% | 28.40% | 34.90% |
Pre-Owned Video Game Products | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | 558 | 528.7 | 1,160.90 | 1,101.30 |
Percent of Total | 32.20% | 38.20% | 31.10% | 33.90% |
Video Game Accessories | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | 107.5 | 92 | 252.6 | 218.4 |
Percent of Total | 6.20% | 6.60% | 6.80% | 6.70% |
Digital | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | 52.3 | 49.4 | 108.4 | 105.6 |
Percent of Total | 3.00% | 3.60% | 2.90% | 3.30% |
Mobile and Consumer Electronics | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | 112.1 | 60.6 | 214.3 | 111.6 |
Percent of Total | 6.50% | 4.40% | 5.70% | 3.40% |
Other | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | $72.20 | $75.40 | $164.30 | $189.50 |
Percent of Total | 4.20% | 5.40% | 4.40% | 5.80% |
Significant_Products_Gross_Pro
Significant Products - Gross Profit and Gross Profit Percentages by Significant Product Category (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Product Information [Line Items] | ' | ' | ' | ' |
Gross Profit | $550.90 | $481.40 | $1,177.30 | $1,059.70 |
Gross Profit Percent | 31.80% | 34.80% | 31.60% | 32.60% |
New Video Game Hardware | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Gross Profit | 31.6 | 15.5 | 76.2 | 35.7 |
Gross Profit Percent | 9.50% | 10.50% | 9.90% | 9.20% |
New Video Game Software | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Gross Profit | 115.7 | 98.9 | 242.9 | 247.1 |
Gross Profit Percent | 23.30% | 23.00% | 23.00% | 21.80% |
Pre-Owned Video Game Products | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Gross Profit | 262.1 | 250.6 | 560.5 | 521.4 |
Gross Profit Percent | 47.00% | 47.40% | 48.30% | 47.30% |
Video Game Accessories | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Gross Profit | 41.9 | 38.4 | 96.9 | 88.3 |
Gross Profit Percent | 39.00% | 41.70% | 38.40% | 40.40% |
Digital | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Gross Profit | 34 | 35.1 | 69.8 | 72.4 |
Gross Profit Percent | 65.00% | 71.10% | 64.40% | 68.60% |
Mobile and Consumer Electronics | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Gross Profit | 40.5 | 16.3 | 77.6 | 28.9 |
Gross Profit Percent | 36.10% | 26.90% | 36.20% | 25.90% |
Other | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Gross Profit | $25.10 | $26.60 | $53.40 | $65.90 |
Gross Profit Percent | 34.80% | 35.30% | 32.50% | 34.80% |
Segment_Information_Sales_by_S
Segment Information - Sales by Segment (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | $1,731.40 | $1,383.70 | $3,727.70 | $3,249 |
Operating Earnings | 36.7 | 18.8 | 142.6 | 106 |
Interest income | 0.1 | 0.1 | 0.3 | 0.2 |
Interest expense | -1.2 | -1.4 | -2 | -2.4 |
Earnings before income tax expense | 35.6 | 17.5 | 140.9 | 103.8 |
United States | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 1,101 | 942.4 | 2,498.70 | 2,295.30 |
Operating Earnings | 35.6 | 43.4 | 142.2 | 136.2 |
Canada | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 82.9 | 67.7 | 173.2 | 155.7 |
Operating Earnings | 1.2 | -0.7 | 3.6 | 1.8 |
Australia And New Zealand | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 142.1 | 112.4 | 258.6 | 226.5 |
Operating Earnings | 4.8 | 1.1 | 6.5 | 2.6 |
Europe | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 335.3 | 261.2 | 667 | 571.5 |
Operating Earnings | -12 | -25 | -22.8 | -34.6 |
Technology Brands | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 70.1 | 0 | 130.2 | 0 |
Operating Earnings | $7.10 | $0 | $13.10 | $0 |
Narrative_Detail
- Narrative (Detail) | 6 Months Ended |
Aug. 02, 2014 | |
Segment Reporting Disclosure [Line Items] | ' |
Segment Reporting Description Of Segments | 'Segment results for the United States include retail operations in 50Â states, the District of Columbia, Guam and Puerto Rico; the electronic commerce Web site www.gamestop.com; Game Informer magazine; the online video gaming Web site www.kongregate.com; a digital PC game distribution platform available at www.gamestop.com/pcgames; and an online consumer electronics marketplace available at www.buymytronics.com. |
United States | ' |
Segment Reporting Disclosure [Line Items] | ' |
Number of states the entity operates | 50 |
Europe | Retail Site | ' |
Segment Reporting Disclosure [Line Items] | ' |
Number of countries in which the entity operates | 11 |
Europe | E- Commerce | ' |
Segment Reporting Disclosure [Line Items] | ' |
Number of countries in which the entity operates | 6 |
Subsequent_Events_Narrative_De
Subsequent Events - Narrative (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 0 Months Ended | 1 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 19, 2014 | Aug. 29, 2014 |
Subsequent Event | Subsequent Event | |||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' |
Cash dividend, per share | $0.33 | $0.28 | $0.66 | $0.55 | $0.33 | ' |
Cash dividend, payment date | ' | ' | ' | ' | 16-Sep-14 | ' |
Cash dividend, date of record | ' | ' | ' | ' | 3-Sep-14 | ' |
Share repurchase, shares | ' | ' | ' | ' | ' | 0.1 |
Share repurchase, average Price Per Share | ' | ' | ' | ' | ' | $41.48 |