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Gamestop Q1 earnings: -$1.61 EPS, 2400% decrease from last year, e-commerce up 519%

Sectorseven

Sectorseven

Member
Oct 25, 2017
6,560

GameStop Reports First Quarter Results - GameStop (NYSE:GME)

First Quarter Net Sales of $1.021 billion; Comparable Store Sales Declined 17% Excluding Stores Closed Due to COVID-19 with Majority of Locations Limited to Curbside Pickup First Quarter E-commerce Sales Increased 519%;
www.benzinga.com www.benzinga.com

GameStop (NYSE:GME) reported quarterly losses of $(1.61) per share which missed the analyst consensus estimate of $(0.46) by 250 percent. This is a 2400 percent decrease over earnings of $0.07 per share from the same period last year. The company reported quarterly sales of $1.02 billion which missed the analyst consensus estimate of $1.09 billion by 6.33 percent. This is a 34.04 percent decrease over sales of $1.55 billion the same period last year.

First Quarter Net Sales of $1.021 billion;
Comparable Store Sales Declined 17% Excluding Stores Closed Due to COVID-19 with Majority of Locations Limited to Curbside Pickup


First Quarter E-commerce Sales Increased 519%; Increased over 1,000% During the Six Weeks Following Store Closures Due to COVID-19

Ends First Quarter with $570 million in Cash, Inventory Reduction of 43% and Accounts Payable Decline of 54% Compared to the First Quarter of Fiscal 2019
 
SirKai

SirKai

Member
Dec 28, 2017
7,395
Washington
Honestly, they barely missed their projected sales goal which is a big shocker. This news isn't as bad as I expected (though their share price.... oof).
 
Secretofmateria

Secretofmateria

User requested ban
Banned
Oct 27, 2017
8,424
Please last until i can trade my consoles in for next gen

please last until i can trade my consoles in for next gen
 
Lord Fanny

Lord Fanny

Banned
Apr 25, 2020
25,953
They will definitely last until next gen consoles, despite the almost meme like silliness that they won't, but I can't imagine them lasting much longer than that.
 
Curler

Curler

Member
Oct 26, 2017
15,605
Considering the closures and everything, I am actually VERY surprised that the numbers are pretty positive! Still hoping that they re-work the company into a better system. I still want the option of SOME store I can browse through and see the condition on before buying (and not having to wait in the mail like on eBay). Mom n pops are not common in some areas, sadly :/
 
mreddie

mreddie

Member
Oct 26, 2017
44,162
Not bad but not good either, still on a thin line even before the pandemic.
 
Hybrid Rainbow

Hybrid Rainbow

Banned
Jun 23, 2019
6,446
SFLUFAN said:
That's actually VERY healthy!
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BordyDogue said:
Ouch!
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ShorttermThornyFlycatcher-size_restricted.gif


Also, should I buy 100 shares and hold onto them just in case? đź‘€
 
Xbox Live Mike

Xbox Live Mike

Prophet of Truth
The Fallen
Oct 29, 2017
2,435
USA
lately I've been picking up GME stock up a bit at a time at around $4. I think once next gen is announced things will turn around for game stop. Curse my Pops if I'm wrong.
 
Rei no Otaku

Rei no Otaku

The Fallen
Oct 25, 2017
3,351
Cranston RI
I hope they find a way to survive. They are still the best place for finding older, less popular games at a decent price. Recently I wanted to play Samurai Warriors 4 again, but couldn't find my copy. Digitally the game is still $60. Amazon wanted $30. I was able to get it at GS for less than $10.
 
KingK

KingK

Member
Oct 27, 2017
4,859
I wouldn't mind Gamestop dying if there was another reliable way of getting games that are 5-10+ years old.

Amazon is shit for buying any games that didn't recently release, in my experience. Idk if there's another online retailer that has a wide inventory of older games?
 
commish

commish

Attempted to circumvent ban with alt account
Banned
Oct 26, 2017
2,274
KingK said:
I wouldn't mind Gamestop dying if there was another reliable way of getting games that are 5-10+ years old.

Amazon is shit for buying any games that didn't recently release, in my experience. Idk if there's another online retailer that has a wide inventory of older games?
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Ebay?
 
KingK

KingK

Member
Oct 27, 2017
4,859
commish said:
Ebay?
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I've never used ebay. Is it really reliable, or are you likely to get the wrong/damaged item?

Ashes of Dreams said:
Also, you know, people work there?

Some people online, I swear...
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Yes, I apologize, that was insensitive. I was thinking more from the aspect of people always talking about how bad their business practices are, and how I wouldn't feel bad for the owners.

I mean, my sister has worked there for nearly a decade, so I definitely don't want the staff to get laid off. Ideally the company would survive and just improve.

I'm still really fond of building a physical library and having brick and mortar game stores to browse, so I'm not looking forward to the supposed all-digital future...
 
ConanEdogawa

ConanEdogawa

Member
Oct 31, 2017
1,082
I don't want Gamestop to go away, but until they stop selling open games as New, or make a distinction for used games if a case/manual is included, I can't shop there. It's a total crapshoot ordering online, which isn't worth it.
 
Ashes of Dreams

Ashes of Dreams

Unshakable Resolve
Member
May 22, 2020
14,493
MBABuddha said:
While that's true, GameStop's attitude and behavior toward its employees has been extensively cataloged as being shit (even before their "essential business" garbage during the shutdown).
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I'm very familiar with Gamestop's attitude and behavior towards its employees.
Trust me here, they still don't want to lose their job.
There's also a lot of people who still enjoy shopping in the store and don't care about trade-in prices or being asked to preorder stuff.
It caters to a demographic and it provides jobs during a troubling economic time.

Criticize it all you like, I certainly do, but those gleefully and smugly wishing for it's closure because they buy digital PC games or they got angry someone asked them to join a membership once, wasting a precious ten seconds of their time, are the worst.

ConanEdogawa said:
I don't want Gamestop to go away, but until they stop selling open games as New, or make a distinction for used games if a case/manual is included, I can't shop there. It's a total crapshoot ordering online, which isn't worth it.
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Opened games marked as New are the last in stock, they are opened to have a display case on the floor. If they have 40 of a game in stock, 39 will be wrapped in the plastic. It can be frustrating when there's only one copy of a niche game, I definitely hear you there, but nobody is trying to trick you into buying a used game. If you're going in for something specific, just ask if they have it wrapped in plastic.

Definitely agree about online, though. As someone who collects games with the cases, I rarely buy preowned from Gamestop online because I don't want to risk not getting the case.
 
Ashes of Dreams

Ashes of Dreams

Unshakable Resolve
Member
May 22, 2020
14,493
inner-G said:
Which consoles?

On CAG I saw someone post that their store reopened for trades, but was no longer taking 360/PS3 systems.
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Things are being opened in waves due to the pandemic. Current gen hardware and software are in the first wave, though most stores probably still aren't doing cash trades.
 
delete12345

delete12345

One Winged Slayer
Member
Nov 17, 2017
19,704
Boston, MA
KingK said:
I wouldn't mind Gamestop dying if there was another reliable way of getting games that are 5-10+ years old.

Amazon is shit for buying any games that didn't recently release, in my experience. Idk if there's another online retailer that has a wide inventory of older games?
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eBay?

I don't know of any other stores that are like Gamestop here in the Northeastern USA.
 
ShyMel

ShyMel

Moderator
Oct 31, 2017
3,483
Curler said:
I'm still in the line of thinking "too many stores".
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Yes, there are three stores within five miles of my house, one of which is across the street from a mall that had one in it before the other one was built. At one point, there was a fourth store but that one did close.
 
Soapbox Killer

Soapbox Killer

Member
Oct 28, 2017
27,147
Stock has already gained another 10% since this news. You still have money to make on this stock in the next 18 months.
 
Curler

Curler

Member
Oct 26, 2017
15,605
ShyMel said:
Yes, there are three stores within five miles of my house, one of which is across the street from a mall that had one in it before the other one was built. At one point, there was a fourth store but that one did close.
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Yeah even after the news of a few hundred being closed down, this is STILL a problem for a lot of locations. I've mentioned in other topics that if you compare the number of stores to other stores, and wow there are still A LOT of Gamestops, for something that is becoming more of a niche.
 

t26

Avenger
Oct 27, 2017
4,561
KingK said:
I've never used ebay. Is it really reliable, or are you likely to get the wrong/damaged item?


Yes, I apologize, that was insensitive. I was thinking more from the aspect of people always talking about how bad their business practices are, and how I wouldn't feel bad for the owners.

I mean, my sister has worked there for nearly a decade, so I definitely don't want the staff to get laid off. Ideally the company would survive and just improve.

I'm still really fond of building a physical library and having brick and mortar game stores to browse, so I'm not looking forward to the supposed all-digital future...
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On ebay you can look at picture and the seller's feedback. With gamestop I am getting disc only or with tons of stickers.
 
Curler

Curler

Member
Oct 26, 2017
15,605
t26 said:
On ebay you can look at picture and the seller's feedback. With gamestop I am getting disc only or with tons of stickers.
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I mean, you can still inspect the discs/cases in person at GS without waiting for it to come in the mail. The stickers are really not always that hard to peel off, unless there are like 5 old stickers underneath of it. If you go slow, it's not that hard to make it look like nothing was on it.

eBay sometimes also had the issue of people that do not agree with what conditions are. I've received discs in "very good" condition that were quite scuffed and the guy argued with me that it was "fine".
 
Illusion

Illusion

Banned
Oct 27, 2017
8,407
ShyMel said:
Yes, there are three stores within five miles of my house, one of which is across the street from a mall that had one in it before the other one was built. At one point, there was a fourth store but that one did close.
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Man makes me think of my area growing up.

One Gamestop in a mall, then another across the street with a third one across the street from that one. And if you go a mile up the same road there is a fourth Gamestop.

The funny thing is, all the stores have stayed opened like that since the early 00's. They were all preforming fairly well enough to stay open. The one in the mall closed, mostly because that mall has been struggling for years.

Now three remain and honestly they should close two more stores within that area.
 
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