• Light/Dark
  • Ever wanted an RSS feed of all your favorite gaming news sites? Go check out our new Gaming Headlines feed! Read more about it here.

Gamestop Q2 earnings: 0.32 loss vs. estimated 0.22, sales 1.28B vs. estimated 1.33B

Sectorseven

Sectorseven

Member
Oct 25, 2017
6,560

Outlines Core Tenets of New Strategic Plan and Doubles Operating Profit Improvement Goal to Exceed $200 Million on Run-Rate Basis by 2021

GameStop's second quarter total global sales decreased 14.3% (13.1% in constant currency) to $1.3 billion, resulting in a consolidated comparable store sales decrease of 11.6%.

  • New hardware sales decreased 41.1%, reflective of recent announcements for next generation console launches in 2020.
  • New software sales decreased 5.3%, with growth in Nintendo Switch software titles more than offset by weaker title launches across other consoles in the quarter compared to last year.
  • Accessories sales decreased 9.5%.
  • Pre-owned sales declined 17.5% with declines in hardware and software.
  • Digital receipts decreased 11.2% to $227.2 million due to weaker title launches in the quarter compared to last year.
  • Collectibles sales increased 21.2%, with continued strong double-digit growth in both domestic and international stores.
GameStop's second quarter GAAP net income (loss) was ($415.3) million, or ($4.15) per diluted share, compared to net income (loss) of ($24.9) million, or ($0.24) per diluted share, in the prior-year quarter, which included the Spring Mobile business. Second quarter fiscal 2019 results include asset impairment charges and other items of $400.9 million ($381.6 million net of taxes), or $3.82 per diluted share, primarily related to impairment of goodwill. Second quarter fiscal 2018 results included a non-operating tax charge of $29.6 million, or $0.29 per diluted share.

Excluding the $400.9 million of impairment charges and other items, GameStop's adjusted net income (loss) from continuing operations for the second quarter was ($32.0) million or ($0.32) per diluted share, compared to net income (loss) from continuing operations of ($10.2) million, or ($0.10) per diluted share, in the prior-year quarter.
 

Deleted member 56266

Account closed at user request
Banned
Apr 25, 2019
7,291
GameStop will be around for a long while yet, they will scrape by until next gen rolls around and then be good for a few years.
 
DMVfan123

DMVfan123

The Fallen
Oct 25, 2017
7,361
Virginia
Ryuji said:
GameStop will be around for a long while yet, they will scrape by until next gen rolls around and then be good for a few years.
Click to expand...
Click to shrink...
Hopefully
I know GameStop gets a bad rap but all the employees in the stores around me are knowledgeable and helpful, although I know that's not the case everywhere, and they're one of the last remaining hopes for physical media in games
 

TimPV3

Member
Oct 30, 2017
631
Can't wait for the butthurt Youtubers to chime in with "GameStop is doomed" because of a bad trade in value they got for Madden years ago.
 
Curler

Curler

Member
Oct 26, 2017
15,599
People often complain about the collectibles, and look where their ONLY growth in sales is. That's why they do it and keep adding different things.
 
fluffydelusions

fluffydelusions

Member
Oct 25, 2017
12,457
DMVfan123 said:
Hopefully
I know GameStop gets a bad rap but all the employees in the stores around me are knowledgeable and helpful, although I know that's not the case everywhere, and they're one of the last remaining hopes for physical media in games
Click to expand...
Click to shrink...
I have no problem with the employees there it's more stuff do with store policies like for instance there return policy is pure garbage compared to places like Target, BB, Walmart etc.
 

Deleted member 16025

User requested account closure
Banned
Oct 27, 2017
1,506
Collectibles being the only area that saw growth means y'all can buckle up and be ready to see that PS3/360 section give way to funkopops and Marvel velcro wallets any day now.
 
Prophet Five

Prophet Five

Pundeath Knight
Member
Nov 11, 2017
7,690
The Great Dark Beyond
fluffydelusions said:
I have no problem with the employees there it's more stuff do with store policies like for instance there return policy is pure garbage compared to places like Target, BB, Walmart etc.
Click to expand...
Click to shrink...

Sadly, people often lump the employees in with the policies. Yes, there are bad employees but that's true anywhere. The guy asking you for a reserve or a sub multiple times in a transaction though is doing so because of pressure from higher ups and the fear he may not get his 3 hours next week so people need to chill the fuck out.

("you" being generic - not directly you)
 
TooBusyLookinGud

TooBusyLookinGud

Graphics Engineer
Verified
Oct 27, 2017
7,939
California
Krakatoa said:
Time to buy some more shares on the drop.
Click to expand...
Click to shrink...
Yep, that after market is looking like a good opportunity.

It's playing the long game with this stock. It will bounce back come next gen, but it will only bounce back for a short time. I may pick up 500 or so shares based purely on next gen. I will sell shortly after the second console is released.
 
Krakatoa

Krakatoa

Prophet of Regret
Member
Oct 29, 2017
3,091
DumpsterJuice said:
Yep, that after market is looking like a good opportunity.

It's playing the long game with this stock. It will bounce back come next gen, but it will only bounce back for a short time. I may pick up 500 or so shares based purely on next gen. I will sell shortly after the second console is released.
Click to expand...
Click to shrink...
That's my thinking as well. I just hope I time it right.
 
fluffydelusions

fluffydelusions

Member
Oct 25, 2017
12,457
Milo Rambaldi said:
Sadly, people often lump the employees in with the policies. Yes, there are bad employees but that's true anywhere. The guy asking you for a reserve or a sub multiple times in a transaction though is doing so because of pressure from higher ups and the fear he may not get his 3 hours next week so people need to chill the fuck out.

("you" being generic - not directly you)
Click to expand...
Click to shrink...
Oh yeah I know about that. I know people that worked there and told me the horror stories of management.
 
Vito

Vito

One Winged Slayer - Formerly Undead Fantasy
Member
Oct 25, 2017
16,046
Milo Rambaldi said:
Sadly, people often lump the employees in with the policies. Yes, there are bad employees but that's true anywhere. The guy asking you for a reserve or a sub multiple times in a transaction though is doing so because of pressure from higher ups and the fear he may not get his 3 hours next week so people need to chill the fuck out.

("you" being generic - not directly you)
Click to expand...
Click to shrink...
Exactly this.

People who complain about that really need to understand this.
 
Prophet Five

Prophet Five

Pundeath Knight
Member
Nov 11, 2017
7,690
The Great Dark Beyond
fluffydelusions said:
Oh yeah I know about that. I know people that worked there and told me the horror stories of management.
Click to expand...
Click to shrink...

Vito said:
Exactly this.

People who complain about that really need to understand this.
Click to expand...
Click to shrink...

8 years here (ASM). I had a great customer base and a good boss for most of my time but my DM was/is a huge douchebag. My friends still there tell me all their horror stories weekly so it's only gotten worse for the employees and I left in 2013.
 
Jessie

Jessie

Member
Oct 27, 2017
9,921
They need to branch into overpriced streetwear. Those margins will get them in the green pretty quickly.
 
blame space

blame space

Resettlement Advisor
Banned
Oct 25, 2017
15,420
thanks for calling GameStop your official CBD headquarters where you can preorder your exclusive joker funko pop today this is blame space how may i do you want to throw the disc protection on there it's only three dollars if anything happens to that disc we will replace it for you free of charge are you sure it's only three dollars what's coming out you're looking forward to what do you have that you're not playing you can trade it towards any pre-order upcoming games collectables anything you want vc we got vc get your vbucks here

we buy iphones hi do you have a powerup card
 
Diablos

Diablos

has a title.
Member
Oct 25, 2017
14,575
blame space said:
thanks for calling GameStop your official CBD headquarters where you can preorder your exclusive joker funko pop today this is blame space how may i do you want to throw the disc protection on there it's only three dollars if anything happens to that disc we will replace it for you free of charge are you sure it's only three dollars what's coming out you're looking forward to what do you have that you're not playing you can trade it towards any pre-order upcoming games collectables anything you want vc we got vc get your vbucks here

we buy iphones hi do you have a powerup card
Click to expand...
Click to shrink...
giphy.gif
 
You must log in or register to reply here.