Electronics Boutique Halves Profit Estimate

Officials from Electronics Boutique have confirmed that profit estimates for the company in the third quarter, ended November 1 have been cut from 5 to 6 cents a share, from a previous estimate of 14 to 18 cents a share. The company also suggested that sales in total would be down 7% at stores open more than a year, rather than the zero to 4% rise previously given. Full fiscal year 2004 earnings are now expected to be in the range of $1.56 to $1.66 a share – down from the previous estimate of $1.85 per share. The revised sales estimates have been blamed on weak software sales and delays in new releases.