Gamestop – GameStop Is Only for Fans
GameStop’s latest results seemed to spook investors, but true fans tend to be the forgiving type.
The videogame retailer’s fiscal second quarter, typically a weak period for game sales, saw revenue jump 26% year over year to $1.18 billion. That seemingly strong growth came mostly thanks to a super-easy comparison. Last year’s revenue for the same period slumped 27% year-over-year to the lowest quarterly figure the company has reported since late 2005, according to data from S&P Global Market Intelligence. The quarter’s sales also were about 8% below what the company managed in the summer of 2019 before the pandemic.