GameStop posts lower sales, reduced losses

[John Elden Ring]

GameStop released its financial results for the three months ended October 28, 2023, showing a dip in revenues, narrowed losses, and not much else.


Here's what you need to know:

The Numbers​

• Net Sales: $1.08 billion, down 9% year-on-year
• Net loss: $3.1 million, compared to a loss of $92.6 million in Q3 2022
• Hardware and accessories net sales: $579 million, down 8% year-on-year
• Software net sales: $321 million, down 9% year-on-year
• Collectibles net sales: $178 million, down 14% year-on-year

The Highlights​

GameStop's third quarter results continued the company's pattern of providing limited insight into its business, offering minimal context for the basic numbers it reports each quarter.


The company noted that its selling, general, and administrative expenses are shrinking, as they were equivalent to less than 28% of this quarter's revenues, compared to the nearly 33% they measured in the year-ago quarter.


Much like last quarter, GameStop also trimmed its net losses significantly, as it only lost $3.1 million compared to the $94.7 million it lost in last year's third quarter.


Beyond that, it said the only long-term debt it holds is a low-interest loan tied to the French government's pandemic response.


Once again, GameStop did not hold a conference call with investors and gave no outlook for its performance in the current quarter.

 

[Bryank75]

We need new players in the retail space, something efficient and targeted.... that customers would enjoy and appreciate.

It's not easy with the advent of online retail but I really think there is a niche to fill where someone can make a profit and satisfy gamers that really love physical games and collecting etc. It would have to really be focused on the local gaming communities I think.

Something like how Warhammer stores grow in certain areas.

 

[BigMclargeHuge]

It's been over a year since I've been in a gamestop.

 

[Zzero]

We need new players in the retail space, something efficient and targeted.... that customers would enjoy and appreciate.

It's not easy with the advent of online retail but I really think there is a niche to fill where someone can make a profit and satisfy gamers that really love physical games and collecting etc. It would have to really be focused on the local gaming communities I think.

Something like how Warhammer stores grow in certain areas.

These places exist, at least where I live, but they all base their sticker prices off of pricecharting.com and are thus ultimately useless.

 

[Bryank75]

These places exist, at least where I live, but they all base their sticker prices off of pricecharting.com and are thus ultimately useless.

Didn't even know about that site, I'm having a look around it now...

My part of the world just has one big toy retailer now that sells consoles and games. Then CEX does second hand stuff but I never go there....cause it stinks.

 

[KiryuRealty]

Didn't even know about that site, I'm having a look around it now...

My part of the world just has one big toy retailer now that sells consoles and games. Then CEX does second hand stuff but I never go there....cause it stinks.

At least Amazon is a decent option for you. Amazon.ca is TERRIBLE for pretty much everything.