Privacy Policy


Our Commitment to Your Privacy

Your privacy is important to us. This privacy statement explains the privacy practices relating to our websites and (individually, the "Web Site" and collectively, the "Web Sites").

What Personal Information We Collect

It is our policy to collect personal information that our members and visitors knowingly provide to us, and we take precautions to protect the information that we receive from you.

We may require you to complete a registration form in order to use certain features of the Web Sites. When you register, you are only required to give us a user name, password, telephone number, and e-mail address. However, we may also ask for other identifying information (such as your name and street address) as well as other demographic data (such as your age, gender, and income). In the event you purchase a product or service from us, we will also require your credit card information and other shipping and billing data.

If you are using our portfolio-tracking feature, news services or any other feature, we collect and store whatever information you voluntarily provide.

How We Use the Information We Collect

Some uses of your personal information are:

  • To ensure that our WebSites are protected against unauthorized access;
  • To send you information about products and services we think might interest you;
  • To notify you of updates to our products and services;
  • To assist in the processing of any transactions between you and us;
  • To deliver products and services you may order from us; and
  • To use e-mail to answer your questions, to diagnose computer problems, or to administer the Web Sites.

We recognize that any information you input into the portfolio-tracking feature is of special concern to you. We keep this information confidential and do not disclose it to unaffiliated parties.

Sharing Our Subscriber and Customer Lists

As is the practice among many publishers, we may make available to unaffiliated parties information that you provide us when ordering a subscription, product, or service. If you do not want such information shared with third parties, please email us at or write us at: Information Privacy Manager, c/o Value Line Publishing, 485 Lexington Avenue, New York, NY 10017, and indicate your wishes in this regard.

Data Security

We take many precautions to protect your information from unauthorized third party access, alteration, theft, or misuse. For example, we use standard online security measures such as encryption and authentication to protect your credit card data. Regrettably, no computer system or online transaction is 100% secure, and we therefore cannot guarantee the security of the information you share with us.

Tracking Technologies

Cookies are files that contain information created by a web server that can be stored on your hard disk for future use. We and third party advertisers may place or read cookies on your computer or use other electronic tools to help analyze web traffic, determine targeted advertisements, facilitate automated activity, store and track passwords, and determine appropriate solicitations by tracking your movement through the Web Sites. Cookies are destroyed whenever you log off the Web Sites, shut down your browser or reboot your computer. Your web browser will allow you to disable cookies, but you will not be able to successfully log on to and participate in many features of our Web Sites if you do so. Therefore, you will always remain in guest status if cookies are disabled.

We may use Web beacons, provided by third-party advertising companies, to help manage and optimize our online advertising and product performance. Web beacons enable us to recognize a browser’s cookie when a browser visits the Web Site, and to learn which banner ads bring users to the Web Site. The use and collection of your information by these third-party service providers, and third-party advertisers and their advertising servers is not covered by this Privacy Policy.To learn more about these practices, cookies, and how to "opt-out" of a third party vendor's use of cookies, please visit the Network Advertising Initiative opt-out page.Opting out of a network does not mean you will no longer receive online advertising. It does mean that the network from which you opted out will no longer deliver ads tailored to your Web preferences and usage patterns.

In some cases, we may automatically (i.e., not via registration) collect technical information when you connect to our Web Sites that are not personally identifiable. Examples of this type of information include the type of Internet browser you are using, the type of computer operating system you are using, and the IP address from which you are linked to our Web Sites. We use this information to help keep the websites running smoothly and to analyze how visitors use our Web Sites.


The Web Sites contain links to other web sites. We have no control over and are not responsible for the privacy policies of such sites. Whenever you link to another web site, you may be asked to provide registration or other information. Please note that any information that you provide is going to a third party, and therefore you should familiarize yourself with that party's privacy policy. This Privacy Statement applies solely to information collected by Value Line's Web Sites.

Changes to Our Privacy Policy

If our privacy policy changes, we will notify all users by posting the new policy on our Web Sites. Please check back here periodically to review our latest policy.

How You Can Access or Correct Your Information

You can request a copy of the personally identifiable information that we have collected about you via the Internet (or correct any factual inaccuracies) by contacting our Information Privacy Manager at the address below.

How to Contact Us About Privacy Matters

If you would like to contact us for any reason concerning our privacy practices, please write or email us at the following address: Information Privacy Manager, c/o Value Line Publishing, 485 Lexington Avenue, New York, NY 10017. E-mail address:

Updated: February 28, 2012


Article Type  :  Commentary  

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Content :

GameStop (GME) is the world’s largest video game retailer. The company has built its dominant market share over the years on the strength of its trade/buy business model. The unique proposition of trading in used games, along with a consistently robust inventory of used games available for purchase, has helped establish GameStop as the number one retail source for video-game consumers. The strong market share has helped the company maintain relatively decent performance over the past couple of years, despite a challenging industry environment. Although sales fell approximately 10% through the first nine months of fiscal 2012 (year ends February 2, 2013), its results were significantly better than the overall industry. Moreover, the company has been able to improve margins, thanks to growth in more-profitable segments. Indeed, earnings per share likely improved by about 10% in fiscal 2012.

Investors seem to have mixed feelings regarding GME and the video game industry outlook. On the one hand, the industry weakness over the past couple of years can be attributed to the prolonged end to the current console cycle. Yet, many investors appear to believe that the core video game business is in more of an underlying secular decline. This sentiment has been evident in the consistently low interest for shares of GME, and in the overall downward pressure on the stock over the past few years. The ongoing shift to digital downloads and streaming/mobile games has been a major focus of investors. Yet, GameStop has been very proactive with increasing its exposure to these segments via acquisitions over the past couple of years.

The company expanded into the online game business with the acquisition of Kongregate in 2010. The website offers over 50,000 free-to-play video games and attracts over 15 million unique visitors each month. The business earns revenues from advertisements and in-game player transactions. GameStop followed up this acquisition with the purchases of Spawn Labs, a cloud-based streaming technology company, and Impulse in 2011. The Impulse acquisition has provided GameStop with a PC digital download distribution platform. Impulse has been integrated into the revamped web site.  The combination of these digital video game assets has helped GameStop establish a rapidly expanding, multi-channel digital business.

Digital sales surged 57% in 2011, and likely increased 35%-40% in fiscal 2012. The segment has received a boost from an increased mix of downloadable content (DLC) connected to top-selling “physical” games. GameStop has rolled out DLC kiosks in its stores, as part of a process to integrate the digital and traditional software businesses. In addition, the company recently created a mobile device business focused on trade-ins and resale of all Apple (AAPL) mobile devices (iPods, iPhones, and iPads). This mobile operation was on track to generate $150 million-$200 million in sales in fiscal 2012, and accelerate to $550 million- $600 million by 2014. Notably, the business has strong margins, which is also the case across all of GME’s digital segments. The digital/mobile business should maintain a robust pace of growth over the next few years, and make increasing contributions to both the top- and bottom-line.

Another positive for GameStop is the strength of its PowerUp Rewards Program. The membership base has rapidly expanded over the past few years, exceeding 21 million members as of November, 2012. Importantly, these customers are much more engaged than non-members, accounting for nearly 75% of sales in the third quarter of fiscal 2012. The vast amount of customer data from the PowerUp program is an important asset, providing GME with detailed customer segmentation information, and improved targeted marketing. Moreover, the success of the program appears to have supported video game sales.

The near-term outlook remains challenging for the video game retail segment, and there is limited visibility on the future structure of the industry, with the ongoing shift to multiple forms of digital games. Yet, GameStop has improved its position for the long term, with a multi-channel approach, and increasing exposure to various digital formats. For more information in regard to GameStop’s prospects, as well as the particular investment merits of the stock, subscribers are encouraged to check out our full report in The Value Line Investment Survery.

At the time of this article’s writing, the author did not have positions in any of the companies mentioned.

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