GameStop Corp New

GME

Equity

ISIN US36467W1099 / Valor 2274310

New York Stock Exchange, Inc (2024-09-17)

USD 20.16+0.35%

GameStop Corp New
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About company

GameStop Corp. is a Fortune 500 company based in Grapevine, Texas, that operates as a global retailer of video games, consumer electronics, and wireless services. With over 7,500 stores across 14 countries, GameStop offers a wide range of products through its various consumer product networks, including online platforms like GameStop.com and Kongregate.com. Additionally, the company owns Game Informer magazine and ThinkGeek, catering to the geek community with exclusive video game and pop culture products. GameStop's Technology Brands segment includes Simply Mac, Spring Mobile AT&T, and Cricket stores, offering a variety of Apple products, AT&T services, and more.

Summarized from source with an LLMView SourceSector: Technology

Net Sales Decline

GameStop Corp New reported net sales of $0.882 billion for the first quarter of 2024, a decrease from $1.237 billion in the same quarter of the previous year. This decline reflects a challenging retail environment and shifts in consumer spending patterns.

SG&A Expenses

Selling, general, and administrative (SG&A) expenses for GameStop Corp New in the first quarter of 2024 were $295.1 million, representing 33.5% of net sales. This is a reduction from $345.7 million, or 27.9% of net sales, in the first quarter of 2023, indicating efforts to control costs amidst declining sales.

Net Loss Reduction

GameStop Corp New reported a net loss of $32.3 million for the first quarter of 2024, an improvement from the net loss of $50.5 million in the same period of the previous year. This reduction in net loss suggests some progress in the company's cost management and operational efficiency initiatives.

Cash and Marketable Securities

At the end of the first quarter of 2024, GameStop Corp New held $1.083 billion in cash, cash equivalents, and marketable securities. This strong liquidity position provides the company with a buffer to navigate ongoing market challenges and invest in strategic initiatives.

Long-Term Debt

GameStop Corp New's long-term debt remains limited to a low-interest, unsecured term loan associated with the French government’s response to COVID-19. This minimal debt level indicates a conservative approach to leveraging and financial risk management.

Summarized from source with an LLMView Source

Key figures

10.6%1Y

-60.7%3Y

1,762%5Y

Performance

139%1Y

108%3Y

143%5Y

Volatility