GameStop's Turnaround Plan Shouldn't Impress Investors [The Motley Fool]
GameStop Corporation (GME)
Last gamestop corporation earnings: 3/26 04:06 pm
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Source: The Motley Fool
GameStop's Turnaround Plan Shouldn't Impress Investors The struggling video game retailer’s “Reboot” plans are filled with vague promises and unrealistic expectations. GameStop 's ( NYSE:GME ) stock recently plunged after the video game retailer posted a big second-quarter miss. Its revenue fell 14% annually to $1.3 billion, missing estimates by $50 million, and its comparable-store sales declined 12%. Sales dropped across all of its product categories except for collectibles, which rose 21% annually but only accounted for 13% of the company's top line. Sales of new video game hardware plunged 41% as it sold fewer consoles, sales of new video game software slipped 5% due to a lack of big game releases, and pre-owned product sales tumbled 17% with fewer trade-ins. Sales of accessories, previously lifted by surging demand for gaming headsets, fell 9%. GameStop's digital revenue, which only accounted for 3% of its top line, fell 10%, indicating that it couldn't keep pace with first-part
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GME
Earnings
- 3/26/24 - Miss
GME
Sec Filings
- 4/25/24 - Form 4
- 4/24/24 - Form 4
- 4/24/24 - Form 144
- GME's page on the SEC website