this post was submitted on 12 Sep 2024
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GameStop Q2 sales down 45% as more stores due to close down (www.gamesindustry.biz)
submitted 2 months ago by nanoUFO@sh.itjust.works to c/games@sh.itjust.works
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[–] GhostedIC@sh.itjust.works 3 points 2 months ago

It's worth mentioning this is deliberately worded to sound as bad as possible. Q2 is down from Q1 (it always is), and revenue is down but so are expenses as unprofitable stores are closed (remember when your local mall had two of them?)

The company was profitable in this last quarter, but only barely. There was an operational loss, but interest on the massive $4Bn war chest pushed it over. This isn't great, but marks a real improvement over hemorrhaging money which it was doing before. Its also the first profitable Q2 in years. The year of 2023 turned a narrow profit and 2024 is on track to be a little better.

Hate GameStop all you want (and by all means, frequent your local indie game store). But keep in mind that business wise, someone still feels the need to spend money on 'attack' articles like this one.