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GameStop Stock Slumps After Wider-Than-Expected Second Quarter Loss

Tiger Newspress2021-09-09

(Update: Sept 9, 2021 at 04:09 a.m. ET)

GameStop Report posted a wider-than-expected second quarter loss Wednesday, but topped Street sales forecasts as brick-and-mortar stores saw increased traffic as pandemic restrictions around the country eased.

Shares of video game retailer GameStop fell about 7% in premarket trading Thursday.

GameStop said its adjusted loss for the three months ending on July 31 was pegged at 76 per share, narrowing from a loss of $1.42 per share over the same period last year but wider than the Street consensus forecast of -66 cents per share. GameStop's reported loss was 85 cents per share. Group revenues, GameStop said, rose 25.6% from last year to $1.183 billion, topping analysts estimates of $1.12 billion.

During the second quarter of 2021, most of our stores in all jurisdictions returned to normal operations," GameStop said in a Securities & Exchange Commission filing. "However, with the resurgence of COVID-19 cases due to variants, we experienced some temporary closures in our Australian segment prior to the end of the second quarter of 2021.

The retailer did not provide an outlook for the coming quarters or take questions during its earnings conference call. It was the first call since CEO Matthew Furlong and CFO Mike Recupero joined GameStop’s leadership.

The retailer also said the U.S. Securities and Exchange Commission has requested additional documents for a probe into GameStop and other companies’ trading activity, which the company had disclosed in May. GameStop said the inquiry is not expected to negatively impact the company.

GameStop has been trying to shift its business more toward e-commerce. In an effort to improve the delivery of online orders, the company announced it signed a lease for a 530,000-square-foot fulfillment center in Reno, Nevada. The site will help it to expand its fulfillment network across both U.S. coasts.

The retailer is also working to expand its customer care operations in the U.S. by leasing a center in Pembroke Pines, Florida.

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评论46

  • RTWL
    ·2021-09-09
    Soon the castle of glass will come crashing down, hedge funds beware 🚀🚀
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    • InvestorD99
      s u p e r s t o n k!!!!
      2021-09-09
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  • Short
    ·2021-09-09
    Oh oh, fun is over?
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    • Alex1709
      Perhaps
      2021-09-09
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  • Joe0319
    ·2021-09-09
    Like me can bo?
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    收起
    • Joe0319
      ok
      2021-09-10
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    • AQJP
      👌
      2021-09-09
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  • nikuku
    ·2021-09-09
    I don’t believe what i’m reading 😂 oh well. It’s GME. 🙌🏻💎
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    收起
    • Joe0319
      ok
      2021-09-09
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  • TongueGirl
    ·2021-09-09
    Bear market coming for all stocks
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  • TYHzir
    ·2021-09-09
    Buy
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  • Daveb
    ·2021-09-09
    .....and tomorrow it will rise again... hold the line Apes... we continue to win.. we have them under seige... they have no way out...its simply time and thats ALL on our side 💎💎💎✊🏿🚀🚀
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  • 微笑小飞虎
    ·2021-09-09
    End game coming…..
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  • Max_Lam
    ·2021-09-09
    All go for this stock…. [Cool] 
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  • SanWangtikup
    ·2021-09-09
    [What] 
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  • bernardtayet
    ·2021-09-09
    The game never stop but wait for clearer sky before playing this stock. 
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  • Dxh
    ·2021-09-09
    Tell me your opinion about this news...
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    • Daveb
      Its FUD GME bet all expectations. Buy if ot dips and simply HOLD. 💎💎💎✊🏿
      2021-09-09
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  • jayjong
    ·2021-09-09
    Delicious dipz to buy morr!!! 
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  • LoneSurvivor
    ·2021-09-09
    DISCOUNT OF COZ MUST BUY, BUY LOW FOR THE HIGH REBOUND. DONT FOMO AND REGRET ONLY AFTER IT SHOOTS UP AGAIN [Cool] 
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    • Daveb
      Well said friend
      2021-09-09
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  • PalantirMood
    ·2021-09-09
    It will rebound,  better days are ahead
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  • AhGirl
    ·2021-09-09
    Good
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  • Kel9670ong
    ·2021-09-09
    Market cooling
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    • Kel9670ong
      price is still high
      2021-09-10
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    • Daveb
      It wont drop much anything between $165 and $200 is as cheap as it will get now. I started at $65 and have bought right through to $280. And Im not stopping...💎💎✊🏿✊🏿
      2021-09-10
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    • Daveb
      Yes and that is excellent for GME. Buy and HOLD 💎💎💎✊🏿✊🏿✊🏿🚀
      2021-09-09
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  • JoelLee
    ·2021-09-09
    Reply and comment pls thx
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    • hohok
      done!
      2021-09-09
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    • Rontjk
      Ok
      2021-09-09
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  • Huat1333
    ·2021-09-09
    Wow..wow..[邪恶] [邪恶] 
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  • Lamborghini1
    ·2021-09-09
    Ok
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