GameStop boosts full-year outlook

For the second quarter, the company forecast earnings of 26 cents to 28 cents per share. Analysts, on average, expect a profit of 26 cents per share for the quarter ending in July, according to a poll by Thomson Financial.

For the year, Grapevine, Texas-based GameStop now expects a profit of $2.30 to $2.39, per share, up from its earlier guidance, given in March, of earnings between $2.25 and $2.34 per share. Analysts expect a profit of 2.33 per share.

The company expects same-store sales, or sales at stores open at least a year, to grow between 12 percent and 14 percent. Same-store sales is a key indicator of retailer performance because it measures growth at existing stores rather than newly opened ones.

GameStop's shares fell $2.85, or 5.6 percent, to $47.90 in premarket trading.