Changes are taking place at GameStop (NYSE:GME). Yesterday, the company announced that Chief Operating Officer Nir Patel will be stepping down. Now, news of the departure is pushing GME stock into the red, continuing a losing streak that has dragged on all week.Of course, it hasn’t been a good month for GameStop already. But now the struggling video game retailer’s growth prospects look even more questionable. GME stock hasn’t caught a break all year and these changes in leadership aren’t likely to fix the ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

It’s been a tough road for consumer discretionary stocks since the pandemic ended. Sky high inflation, rising interest rates and economic worries have led consumers to tighten their purse strings. At the same time, discretionary dollars have flowed more towards travel and experiences and away from spending on goods and products. The result is that spending on non-essential items has declined as consumers prioritize groceries, gasoline and paying the rent. Now is the time for investors to examine their portf ...

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 3, 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 1-32637 GameStop Corp. (Exact name of registrant as specified in its Charter) Delaware 20-2733559 (I.R.S. Employer Identification No.) Grapevine, Texas 76051 (Address of principal execut ...

Exhibit 99.1 GameStop Reports Fourth Quarter and Fiscal Year 2023 Results GRAPEVINE, Texas--(BUSINESS WIRE)--March 26, 2024-- GameStop Corp. (NYSE: GME) ("GameStop" or the "Company") today released financial results for the fourth quarter and fiscal year ended February 3, 2024. The Company's consolidated financial statements, including GAAP and non-GAAP results, are below. The Company's Form 10-K and supplemental information can be found at https://investor.gamestop.com. FOURTH QUARTER OVERVIEW FULL YEAR OV ...

Net Sales and Revenue - Net sales for Q4 2024 were $1.794 billion, a decrease from $2.226 billion in Q4 2023[2] - Full-year net sales for 2023 were $5.273 billion, down from $5.927 billion in 2022[3] - Net sales for hardware and accessories were $1,094.6 million, accounting for 61.0% of total net sales for the 14 weeks ended February 3, 2024[20] - Total net sales for the 53 weeks ended February 3, 2024, were $5,272.8 million, with hardware and accessories contributing 56.8%[21] - Software sales accounted for 26.0% of total net sales for the 14 weeks ended February 3, 2024, amounting to $465.3 million[20] - Collectibles sales were $233.7 million, representing 13.0% of total net sales for the 14 weeks ended February 3, 2024[20] Net Income and Profitability - Net income for Q4 2024 was $63.1 million, up from $48.2 million in Q4 2023[2] - Full-year net income for 2023 was $6.7 million, compared to a net loss of $313.1 million in 2022[3] - Adjusted EBITDA for 2023 was $64.7 million, a significant improvement from ($192.7) million in 2022[3] - Net income for the 14 weeks ended February 3, 2024, was $63.1 million, compared to $48.2 million for the 13 weeks ended January 28, 2023[18] - Adjusted operating income for the weeks ended February 3, 2024, was $60.3 million, compared to $46.9 million for the same period in 2023[23] - Adjusted net income for the weeks ended February 3, 2024, was $67.7 million, compared to $48.9 million for the same period in 2023[23] - Adjusted EBITDA for the weeks ended February 3, 2024, was $88.0 million, compared to $82.5 million for the same period in 2023[25] - Adjusted earnings per share (diluted) for the weeks ended February 3, 2024, was $0.22, compared to $0.16 for the same period in 2023[23] Expenses and Costs - SG&A expenses for Q4 2024 were $359.2 million, or 20.0% of net sales, down from $453.4 million, or 20.4% of net sales, in Q4 2023[2] - Full-year SG&A expenses for 2023 were $1.324 billion, or 25.1% of net sales, compared to $1.681 billion, or 28.4% of net sales, in 2022[3] - Adjusted SG&A expenses for the weeks ended February 3, 2024, were $358.9 million, compared to $452.9 million for the same period in 2023[23] - Transformation costs for the weeks ended February 3, 2024, were $0.3 million, compared to $0.5 million for the same period in 2023[23] - Asset impairments for the weeks ended February 3, 2024, were $4.8 million, compared to $0.2 million for the same period in 2023[23] Cash Flow and Liquidity - Cash, cash equivalents, and marketable securities totaled $1.199 billion at the end of Q4 2024[2] - Cash and cash equivalents decreased to $921.7 million in February 2024 from $1,139.0 million in January 2023[17] - Net cash flows used in operating activities were $203.7 million for the 53 weeks ended February 3, 2024, compared to $108.2 million provided by operating activities for the 52 weeks ended January 28, 2023[19] - Net cash flows provided by investing activities were $20.6 million for the 14 weeks ended February 3, 2024, compared to $19.1 million used in investing activities for the 13 weeks ended January 28, 2023[18] - Free cash flow for the weeks ended February 3, 2024, was -$18.7 million, compared to $326.6 million for the same period in 2023[28] - Net cash flows used in operating activities for the weeks ended February 3, 2024, were -$11.0 million, compared to $338.2 million for the same period in 2023[28] - Capital expenditures for the weeks ended February 3, 2024, were $7.7 million, compared to $11.6 million for the same period in 2023[28] Gross Profit - Gross profit for Q4 2024 was $419.2 million, or 23.4% of net sales, down from $499.8 million, or 22.4% of net sales, in Q4 2023[8] - Full-year gross profit for 2023 was $1.294 billion, or 24.5% of net sales, compared to $1.372 billion, or 23.1% of net sales, in 2022[15] Inventory and Assets - Merchandise inventories decreased to $632.5 million in February 2024 from $682.9 million in January 2023[17] - Total assets decreased to $2,709.0 million in February 2024 from $3,113.4 million in January 2023[17]

Dennis Diatel Photography While its stock is nowhere near the peak it reached during the meme stock mania of 2021, GameStop Corp. (NYSE:GME) has the potential to rebound from current levels, in my opinion, when it posts its Q4 and full year 2023 results on March 26 after market close. Analysts expect the video game retailer to report Q4 revenue of $2.05 billion and an EPS of $0.25, whereas full year estimates are for $5.53 billion in revenue and an EPS of $0.13. That said, I expect GameStop to beat anal ...

Key PointsShares of GameStop stock surged higher, but with no news from the company, shareholders shouldn't count on a short squeeze. The company reports earnings on March 17, 2024, but with no news from the company, there's no expectation of a blockbuster announcement.  GME stock may have some trade value but still appears to be a poor investment.5 stocks we like better than GameStopIt's not 2021, but GameStop Inc. NYSE: GME is giving its loyal band of traders a familiar feeling. Between February 22 and Ma ...

What is Shorting?Shorting refers to the practice of selling an asset (such as stocks or commodities) that the seller does not own with the expectation that its price will decline. The seller aims to buy back the asset at a lower price, making a profit from the price difference.Is Shorting Worth it? Learn from Other’s Experience“The whole purpose of education is to run mirrors into windows.” ~ Sydney J. HarrisIndividuals who can look beyond their own beliefs, biases, and experiences and learn through others ...

Meme stocks have come a long way since early 2021. What qualified as a meme stock back then doesn’t pass muster today. Although the companies in both groups are hugely popular and witnessed large price movements as a result, the original cast was mainly those that had large short positions that could be exploited by traders. GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC) became the face of the meme stock frenzy because of it. That no longer seems to be a requirement. Today, meme stocks look more like ...