[ad_1]
GameStop closed the first quarter of its 2019 fiscal year, recording a 13.3% decline in sales due to weak demand for new and used hardware and software.
The company announced global sales of $ 1.5 billion for the quarter ending May 4, 2019, down from $ 1.8 billion the year before. GAAP net income for the first quarter was $ 6.8 million, compared to $ 28.2 million last year, although the company's 2018 numbers were boosted by the sale of Spring Mobile this year.
While sales of collectibles and accessories increased year-on-year (10.5% and 0.6% respectively), sales of other categories of the company declined by 4%. , 3 to 35% from one year to the next.
New hardware sales recorded the largest drop, a 35% decline, which the company said was primarily driven by lower sales of Xbox One and PlayStation 4 (but offset by increased sales of Nintendo Switch ). Sales of second-hand vehicles, including both hardware and software, decreased 20.3%, while new software sales decreased 4.3% due to weak launches new titles compared to last year.
George Sherman, recently named CEO of GameStop, said the company is considering a "multi-year transformation effort" aimed at getting the retailer out of the crisis in which it has fallen in recent years "by focusing on the key elements of our business our future and a disciplined approach to capital allocation. "Last week, GameStop announced the new roles of Merchandising Manager and Customer Manager, as well as its efforts to reposition the company.
[ad_2]
Source link