November NPD shows retail software down 7%, and GME is now
$30.57. Analysts are finally waking up. Stifel has cut estimates,
Pacific Crest calls it "shockingly bad".
blogs.barrons.com/te...crest/
It's interesting now to review their buyback activity. In the
last 4 years they have spent $1,165.9M to buy 38.5M shares. That's
an average price of $30.28. Just think, well over a billion dollars
that could have served the company well on their balance sheet,
blown so the execs could extract more for themselves with their
share grants and eps bonuses.
Since January 2010, our Board of Directors has
authorized several share repurchase programs authorizing our
management to repurchase our Class A Common Stock. Since the
beginning of fiscal 2011, each individual authorization has been
for $500 million. Our general
practice is to seek Board of Directors’ approval for a new
authorization before the existing one is fully used to ensure that
we are always able to repurchase shares. For fiscal 2012, we
repurchased 19.9 million shares
for an average price per share
of $20.60 and a total
of $409.4 million. For fiscal 2013,
we repurchased 6.3
million shares for an average price per share
of $41.12 and a total
of $258.3 million. For fiscal 2014,
we repurchased 8.4
million shares for an average price per share
of $39.50 and a total
of $333.4 million.
During the first three quarters of fiscal 2015, we
repurchased 3.6 million shares of our Class A Common Stock at an
average price per share of $41.95 for a total of $152.1 million.
Between November 1, 2015 and December 1, 2015, we repurchased 0.3
million shares at an average price per share of $39.93 for a total
of $12.7 million.