Video game retailer GameStop rating downgraded CFO resigns

Beijing time Friday Morning news, video game retailer GameStop fell 7.2% to 17.50 dollars.　　The company announced that its chief financial officer had resigned, and one analyst warned that the company's performance would be under pressure as more and more games were sold through digital channels. GameStop disclosed that its chief financial officer, Cathy Smith, had resigned from office and went to Wal-Mart after the close of Wednesday. Smith worked in the company only 6 months after the housing developer Centex Corp.　　Job.　　Piper Jaffray analyst Anthony Gikas downgraded the shares to "neutral" after the opening in Thursday and said the trend against the company was that more and more games were being sold through digital channels rather than retail outlets. "While the GameStop valuation and cash flow indicators remain attractive, it is difficult to recommend stocks without long-term growth potential," Gikas said in a study.　　"GameStop has fallen by more than one-fourth per cent so far this year. The resignation of the company's chief financial officer was a surprise to the market, and analysts said his resignation did not mean a big problem for the company's finances.　　The company's chief accountant will take over the job. Colin Sebastian, analyst at Lazard Capital Markets, said, "We are cautious about Ms Smith's resignation, and from the performance point of view, she is looking for development opportunities at Wal-Mart rather than GameStop financial problems."　　Piper Jaffray analyst Gikas points out that the chief financial officer's move to leave so quickly is "clearly not a good omen" and her departure is likely to mean a difficult road ahead, which casts a shadow over the GameStop's near-term and long-term prospects. But the biggest threat to the company is the shift in the gaming industry to digital distribution channels, he said.　　The proportion of packaged game sales to total sales has fallen from 85% to 70% from two years ago. "We believe that this shift will continue and that the current gaming industry cycle is on the platform and that the next three years will fall," he said. ”