Welcome to our dedicated page for GameStop news (Ticker: GME), a resource for investors and traders seeking the latest updates and insights on GameStop stock.
GameStop Corp. Class A (symbol: GME) is a leading global retailer specializing in video games, consumer electronics, and wireless services. With a robust presence spanning over 7,500 stores in 14 countries including the United States, Canada, Europe, and Australia, GameStop is dedicated to providing both new and pre-owned technologies to its customers.
GameStop's diverse portfolio includes well-known brands such as GameStop, EB Games, Micromania, and Kongregate. The company also publishes Game Informer, one of the world's top video game magazines. These brands collectively offer a comprehensive range of products from physical and digital video game software to hardware accessories and pop culture collectibles.
GameStop’s core business revolves around making popular technologies affordable and accessible. The company aims to innovate continuously, delivering new gaming experiences and consumer electronics to enthusiasts worldwide. They offer a unique blend of in-store and online shopping experiences through their extensive retail network and advanced e-commerce sites.
Recent advancements include the transitioning towards a more digitally focused business model to cater to the evolving market trends. GameStop is also expanding its product line-up to include consumer electronics and wireless services, ensuring they remain at the forefront of technological advancement.
Financially, GameStop has shown resilience in a competitive market, leveraging its extensive retail network and online presence to maintain steady revenue streams. Partnerships with leading technology and gaming companies further strengthen its market position, ensuring a consistent supply of the latest and most demanded products.
With a commitment to innovation, convenience, and value, GameStop continues to be a beloved destination for gaming and technology enthusiasts. Whether you are in search of the latest game releases, hardware, or collectibles, GameStop promises a welcoming and engaging shopping experience.
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.
GameStop Corp. (NYSE: GME) is set to report its second quarter fiscal 2022 results on September 7, 2022, after the market closes. An investor conference call will follow at 5:00 PM ET to discuss the results. Shareholders and interested parties can access the call via the company’s investor relations website. The conference call can be joined using phone number 1-877-407-6169 with confirmation code 13732487. A recording will be available on the website post-call.
GameStop Corp. (NYSE: GME) has launched its public beta non-fungible token (NFT) marketplace, allowing users to buy, sell, and trade NFTs. This non-custodial marketplace is built on Ethereum Layer 2 technology, providing genuine ownership of digital assets secured on the blockchain. The platform also supports connections to individual digital asset wallets like the recently launched GameStop Wallet. Future expansions will include new categories such as Web3 gaming and additional Ethereum environments.
GameStop Corp. has appointed Diana Saadeh-Jajeh as the new Chief Financial Officer, effective immediately. Saadeh-Jajeh previously served as the interim CFO in 2021 and was the Company’s Chief Accounting Officer before this appointment. This change comes with the termination of Michael Recupero's employment. The announcement reflects a significant leadership transition aimed at stabilizing the Company's financial strategy.
For further details, refer to the Form 8-K filed with the U.S. Securities and Exchange Commission.
GameStop Corp. (NYSE: GME) has announced a four-for-one stock split of its Class A common stock, declared as a stock dividend. Shareholders of record as of July 18, 2022, will receive three additional shares for each share held. The stock dividend will be distributed post-trading on July 21, 2022, with trading on a split-adjusted basis commencing on July 22, 2022. This decision reflects GameStop's strategy to enhance the liquidity of its shares and make them more accessible to investors.
GameStop Corp. (NYSE: GME) reported first-quarter results for the period ending April 30, 2022, with net sales of $1.378 billion, a rise from $1.277 billion in the previous year. The increase was driven by new brand relationships. Inventory levels reached $917.6 million, up from $570.9 million, to meet customer demand despite supply chain challenges. GameStop ended the quarter with $1.035 billion in cash and no significant debt. The company is launching a digital asset wallet to facilitate transactions for NFTs and cryptocurrencies and has strengthened its leadership with industry veterans.
GameStop Corp. (NYSE: GME) announced it will release its first quarter fiscal 2022 results on June 1, 2022, after market close. A conference call for investors will take place at 5:00 pm ET the same day, offering an opportunity to review the financial results. Investors can access additional information through GameStop’s investor relations website. The call can be joined via phone at 877-451-6152 using the confirmation code 13725350. A recording will also be available online after the event.
GameStop Corp. (NYSE: GME) has launched a new digital asset wallet aimed at gamers, allowing for the storage and transaction of cryptocurrencies and NFTs across decentralized applications. The self-custodial Ethereum wallet can be downloaded from the Chrome Web Store and facilitates transactions on GameStop's upcoming NFT marketplace, expected to launch in Q2 of the fiscal year. With this initiative, GameStop aims to enhance user experience in the digital asset space.
GameStop Corp. has appointed Nir Patel as the new Chief Operating Officer, effective May 31, 2022. Patel brings nearly two decades of experience in retail operations, previously serving as CEO of Belk, and holding senior positions at Kohl's and Lands' End. His extensive background encompasses operations, merchandising, supply chain, and retail management, positioning him to enhance GameStop's strategic direction. The appointment aims to bolster the company’s operational capabilities as it navigates the evolving retail landscape.
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