Taking the Games Out of GameStop – The Wall Street Journal

December 9, 2021 by No Comments

A videogame retailer without games? The new GameStop seems to think it is at least plausible.

The retail chain’s fiscal third-quarter results reported late Wednesday showed the company’s third consecutive period of double-digit sales growth. Revenue jumped 29% year over year to about $1.3 billion. That was ahead of the $1.2 billion consensus target of the few Wall Street analysts still willing to cover the meme-addled stock. But merchandise inventory also exploded by 91% from the previous quarter—the biggest sequential jump in more than a decade as the company claimed it was “front-loading investments” to meet increased demand and mitigate supply-chain issues. GameStop’s share price slipped 4% in premarket trading Thursday.

Source: https://www.wsj.com/articles/taking-the-games-out-of-gamestop-11639058405


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