GameStop Corp. - GME STOCK NEWS

GameStop reported its financial results for Q4 and the fiscal year ended January 28, 2023. Net sales in Q4 reached $2.226 billion, slightly down from $2.254 billion year-over-year. However, the company posted a net income of $48.2 million, a significant improvement from a net loss of $147.5 million in the previous year. SG&A expenses decreased to 20.4% of sales, down from 23.9%. For the full fiscal year, sales totaled $5.927 billion, compared to $6.011 billion in 2021. GameStop is focusing on efficiency, profitability, and long-term growth, particularly in collectibles. Cash and equivalents stood at $1.391 billion.

GameStop Corp. (NYSE: GME) will report its fourth quarter and full year fiscal 2022 results after the market closes on Tuesday, March 21, 2023. An investor conference call will follow at 5:00 pm ET to discuss these results. This call, along with supplemental information, will be accessible via GameStop's investor relations website at https://investor.gamestop.com/. Interested parties can join the conference call by dialing 1-877-407-6169 with confirmation code 13736983. A recording will also be available afterwards.

GameStop Corp. (NYSE: GME) reported third-quarter financial results for the period ending October 29, 2022. Net sales decreased to $1.186 billion, down from $1.297 billion in the same quarter last year. However, the company experienced strong sales from new brand partnerships and collectibles. SG&A expenses fell to $387.9 million, representing 32.7% of sales, down from 32.5% last year. The inventory was $1.131 billion, with cash and equivalents at $1.042 billion. Long-term debt remains minimal, primarily due to a low-interest loan related to COVID-19.

GameStop Corp. (NYSE: GME) will announce its third quarter fiscal 2022 results on December 7, 2022, after the market closes. An investor conference call is scheduled for 5:00 pm ET the same day to discuss the results. Investors can access the call by dialing 1-877-407-6169 with confirmation code 13734613. A recording will be available on GameStop's investor relations website. For more information, visit GameStop Investor Relations.

GameStop Corp. (NYSE: GME) has officially launched its NFT Marketplace in collaboration with ImmutableX, providing access to web3 games and millions of NFT gaming assets for its players and Powerup Pro loyalty customers in the U.S. This partnership enables 100% gas-free and carbon-neutral minting and trading on the platform. GameStop aims to unlock significant web3 gaming opportunities through this integration, enhancing its position in the NFT space.

GameStop Corp. (NYSE: GME) has announced a partnership with FTX US to enhance its customer engagement in the digital asset marketplace. As part of this collaboration, GameStop will serve as FTX's preferred retail partner in the United States, introducing FTX gift cards in select stores and exploring new ecommerce and marketing initiatives. Financial details of the partnership were not disclosed, and the company warned that the partnership includes forward-looking statements and associated risks.

GameStop Corp. (GME) reported second-quarter results for the period ending July 30, 2022, with net sales of $1.136 billion, down from $1.183 billion year-over-year. Collectibles sales increased to $223.2 million, up from $177.2 million. SG&A expenses decreased by 14.3% sequentially to $387.5 million, reflecting cost management efforts. Inventory rose to $734.8 million compared to $596.4 million last year. The company ended with $908.9 million in cash and no significant debt. A conference call is scheduled for September 7, 2022, to discuss these results.