Gamestop's pre-market trading fell by more than 11% in the second quarter due to poor sales, and store closures are also being considered.

Gamestop announced its second quarter earnings for the period ending on August 3rd. Revenue decreased 31% from the same period last year to $0.798 billion, compared to market expectations of $0.896 billion. Adjusted loss per share was $0.04, compared to market expectations of a loss of $0.09. Hardware revenue decreased by 24.5% to $0.451 billion, and software revenue decreased by 47.6% to $0.208 billion during the same period. Additionally, the company is conducting a comprehensive store portfolio optimization evaluation and intends to identify stores to close based on various factors.

Analyst Michael Pachter from Wedbush stated that Gamestop still faces significant hurdles in its plan to return to a growth trajectory and lacks a strategy to enter promising new areas.

Wedbush rates Gamestop as outperforming.