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"GameStop Reports Second Quarter Fiscal Year 2022 Results
investor.gamestop.com/news-releases/...scal-year-2022-results
September 7, 2022
GRAPEVINE, Texas--(BUSINESS WIRE)--Sep. 7, 2022-- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today released financial results for the second quarter ended July 30, 2022. The Company’s condensed and consolidated financial statements, including GAAP and non-GAAP results, are below. The Company’s Form 10-Q and supplemental information can be found at investor.GameStop.com.
SECOND QUARTER OVERVIEW
Net sales were $1.136 billion for the quarter, compared to $1.183 billion in the prior year’s second quarter.
Sales attributable to collectibles, which is a segment the Company intends to grow over the long-term, were $223.2 million for the quarter, compared to $177.2 million in the prior year’s second quarter.
Selling, general and administrative expenses were $387.5 million for the quarter, representing a sequential decline of 14.3% from the first quarter of 2022 and reflecting, in part, the Company’s focus on right-sizing costs following a period of significant investment in long-term initiatives.
Inventory was $734.8 million at the close of the quarter, compared to $596.4 million at the close of the prior year’s second quarter, reflecting the Company’s focus on maintaining adequate in-stock levels to meet customer demand and offset lingering supply chain headwinds.
Followed the launch of the Company's digital wallet by launching the Company's non-fungible token ("NFT") marketplace to allow gamers, creators, collectors and others to buy, sell and trade NFTs.
Modernized and strengthened the Company’s systems through the implementation of SAP.
Ended the period with cash and cash equivalents of $908.9 million as well as no debt other than a low-interest, unsecured term loan associated with the French government’s response to COVID-19..."
investor.gamestop.com/news-releases/...scal-year-2022-results
September 7, 2022
GRAPEVINE, Texas--(BUSINESS WIRE)--Sep. 7, 2022-- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today released financial results for the second quarter ended July 30, 2022. The Company’s condensed and consolidated financial statements, including GAAP and non-GAAP results, are below. The Company’s Form 10-Q and supplemental information can be found at investor.GameStop.com.
SECOND QUARTER OVERVIEW
Net sales were $1.136 billion for the quarter, compared to $1.183 billion in the prior year’s second quarter.
Sales attributable to collectibles, which is a segment the Company intends to grow over the long-term, were $223.2 million for the quarter, compared to $177.2 million in the prior year’s second quarter.
Selling, general and administrative expenses were $387.5 million for the quarter, representing a sequential decline of 14.3% from the first quarter of 2022 and reflecting, in part, the Company’s focus on right-sizing costs following a period of significant investment in long-term initiatives.
Inventory was $734.8 million at the close of the quarter, compared to $596.4 million at the close of the prior year’s second quarter, reflecting the Company’s focus on maintaining adequate in-stock levels to meet customer demand and offset lingering supply chain headwinds.
Followed the launch of the Company's digital wallet by launching the Company's non-fungible token ("NFT") marketplace to allow gamers, creators, collectors and others to buy, sell and trade NFTs.
Modernized and strengthened the Company’s systems through the implementation of SAP.
Ended the period with cash and cash equivalents of $908.9 million as well as no debt other than a low-interest, unsecured term loan associated with the French government’s response to COVID-19..."
