GameStop Faces Declining Sales and Digital Transition Challenges

GameStop, once a dominant force in the gaming retail industry, is facing some challenges as it adjusts to the rise of digital distribution and changing consumer behavior.The company’s third-quarter financial results released Tuesday (Dec. 10) revealed a mixed picture as GameStop’s net sales sank 20.2% to $0.860 billion, but it posted a net income of $17.4 million, up from a net loss of $3.1 million for the same period last year.Elevated Cash PositionAdditionally, GameStop improved its cash position, reporti ...