Sporting goods in the offline world is a tough business, and companies like Sports Authority and Foot Locker have taken a long time to establish their brands. Given unlimited access to capital, [MVP.com] could have eventually survived.
Electronic Arts is up 40 percent since the company reported second-quarter results on July 25. Though this has occurred faster than we expected, we are confident that there is still plenty of room for appreciation as we approach the Oct. 27 launch of PlayStation 2.
We continue to believe that no company is better positioned to benefit from the success of PlayStation 2 and the overall expansion of the gaming space as move into a new platform cycle than Electronic Arts.