On June 7, 2024, GameStop Corp. released its financial results for the first quarter ending May 4, 2024. The company reported net sales of $0.882 billion, a decrease from $1.237 billion in the previous year's first quarter. Selling, general and administrative expenses were $295.1 million, representing 33.5% of net sales, compared to $345.7 million or 27.9% in the same period last year. GameStop experienced a net loss of $32.3 million, which is an improvement from a net loss of $50.5 million in the prior year's first quarter. The company's cash and cash equivalents, along with marketable securities, totaled $1.083 billion at the end of the quarter. GameStop highlighted that it will not be holding a conference call in conjunction with the report release. The company also provided non-GAAP financial...Show More

On June 7, 2024, GameStop Corp. released its financial results for the first quarter ending May 4, 2024. The company reported net sales of $0.882 billion, a decrease from $1.237 billion in the previous year's first quarter. Selling, general and administrative expenses were $295.1 million, representing 33.5% of net sales, compared to $345.7 million or 27.9% in the same period last year. GameStop experienced a net loss of $32.3 million, which is an improvement from a net loss of $50.5 million in the prior year's first quarter. The company's cash and cash equivalents, along with marketable securities, totaled $1.083 billion at the end of the quarter. GameStop highlighted that it will not be holding a conference call in conjunction with the report release. The company also provided non-GAAP financial measures, which they believe offer additional insight into their core operating performance. These measures exclude certain costs such as transformation costs and asset impairments. GameStop's forward-looking statements indicate management's expectations for future operations, margins, profitability, and other financial aspects, while also acknowledging the risks and uncertainties that could cause actual results to differ materially.