GameStop(GME) - 2025 Q4 - Annual Report

Store Operations - As of February 1, 2025, the company operates a total of 3,203 stores globally, with 2,325 in the United States, 193 in Canada, 374 in Australia, and 311 in Europe[17]. - The company has approximately 6,000 full-time associates and between 10,000 and 13,000 part-time associates, reflecting a significant workforce[38]. Sales Performance - The company generated approximately 34% of its sales during the fourth quarter of both fiscal 2024 and 2023, indicating a strong seasonal sales pattern[36]. Product and Market Strategy - The trade-in program allows customers to exchange pre-owned products for cash or credit, enhancing market share and providing a broader range of price points[18]. - The company aims to achieve profitability by optimizing its cost structure and expanding its addressable market through new product offerings, including graded collectibles[31]. - The company’s strategy includes maximizing shareholder value through potential investment and acquisition opportunities while optimizing retail operations for profitability[24]. Investment and Financial Management - The investment policy was revised to allow for investments in Bitcoin as a treasury reserve asset, with no maximum accumulation limit set[28]. - The company recognized a gain of $0.9 million and$2.0 million in SG&A expenses related to derivative instruments for the fiscal years ended February 1, 2025, and February 3, 2024, respectively[196]. Supplier Relationships and Sustainability - The company’s largest vendors, Sony, Nintendo, and Microsoft, accounted for a majority of new product purchases in fiscal 2024, highlighting key supplier relationships[30]. - The company operates refurbishment centers in multiple countries to test, repair, and redistribute used products, supporting sustainability and inventory management[18].