GameStop Announces First Quarter Preliminary Results
17 Maio 2024 - 8:21AM
GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today
announced certain preliminary unaudited financial information for
the first quarter ended May 4, 2024.
On a preliminary basis for the 13-weeks
ended May 4, 2024 compared to the 13-weeks ended April 29,
2023:
- Net sales are expected to be in the range of $0.872 billion to
$0.892 billion compared to $1.237 billion in the prior year fiscal
quarter.
- Selling, general and administrative (“SG&A") expenses are
expected to be in the range of $290 million to $300 million,
compared to $345.7 million in the prior year fiscal quarter.
- Net loss is expected to be in the range of $27 million to $37
million, compared to a net loss of $50.5 million in the prior year
fiscal quarter.
- Cash, cash equivalents and marketable securities are expected
to be in the range of $1.073 billion to $1.093 billion, compared to
$1.310 billion at the close of the prior year fiscal quarter.
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING STATEMENTS - SAFE HARBOR
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements are based upon management’s
current beliefs, views, estimates and expectations, including as to
the Company’s industry, business strategy, goals and expectations
concerning its market position, strategic and transformation
initiatives, future operations, margins, profitability, sales
growth, capital expenditures, liquidity, capital resources,
expansion of technology expertise, and other financial and
operating information, including expectations as to future
operating profit improvement. Forward-looking statements are
subject to significant risks and uncertainties and actual
developments, business decisions, outcomes and results may differ
materially from those reflected or described in the forward-looking
statements. The following factors, among others, could cause actual
developments, business decisions, outcomes and results to differ
materially from those reflected or described in the forward-looking
statements: economic, social, and political conditions in the
markets in which we operate; the competitive nature of the
Company’s industry; the cyclicality of the video game industry; the
Company’s dependence on the timely delivery of new and innovative
products from its vendors; the impact of technological advances in
the video game industry and related changes in consumer behavior on
the Company’s sales; interruptions to the Company’s supply chain or
the supply chain of our suppliers; the Company’s dependence on
sales during the holiday selling season; the Company’s ability to
obtain favorable terms from its current and future suppliers and
service providers; the Company’s ability to anticipate, identify
and react to trends in pop culture with regard to its sales of
collectibles; the Company’s ability to maintain strong retail and
ecommerce experiences for its customers; the Company’s ability to
keep pace with changing industry technology and consumer
preferences; the Company’s ability to manage its profitability and
cost reduction initiatives; turnover in senior management or the
Company’s ability to attract and retain qualified personnel;
potential damage to the Company’s reputation or customers'
perception of the Company; the Company’s ability to maintain the
security or privacy of its customer, associate or Company
information; occurrence of weather events, natural disasters,
public health crises and other unexpected events; risks associated
with inventory shrinkage; potential failure or inadequacy of the
Company's computerized systems; the ability of the Company’s third
party delivery services to deliver products to the Company’s retail
locations, fulfillment centers and consumers and changes in the
terms the Company has with such service providers; the ability and
willingness of the Company’s vendors to provide marketing and
merchandising support at historical or anticipated levels;
restrictions on the Company’s ability to purchase and sell
pre-owned products; the Company’s ability to renew or enter into
new leases on favorable terms; unfavorable changes in the Company’s
global tax rate; legislative actions; the Company’s ability to
comply with federal, state, local and international laws and
regulations and statutes; potential future litigation and other
legal proceedings; volatility in the value of our investments and
securities; concentration of the Company’s investment portfolio
into one or few holdings; the recognition of losses in a particular
security even if the Company has not sold the security; volatility
in the Company’s stock price, including volatility due to potential
short squeezes; continued high degrees of media coverage by third
parties; the availability and future sales of substantial amounts
of the Company’s Class A common stock; fluctuations in the
Company’s results of operations from quarter to quarter; the
restrictions contained in the agreement governing the Company’s
revolving credit facility; the Company’s ability to generate
sufficient cash flow to fund its operations; the Company’s ability
to incur additional debt; risks associated with the Company’s
investment in marketable, nonmarketable and interest-bearing
securities, including the impact of such investments on Company’s
financial results; and the Company’s ability to maintain effective
control over financial reporting. Additional factors that could
cause results to differ materially from those reflected or
described in the forward-looking statements can be found in
GameStop's most recent Annual Report on Form 10-K and other filings
made from time to time with the SEC and available at
www.sec.gov or on the Company’s investor relations website
(https://investor.gamestop.com). Forward-looking statements
contained in this press release speak only as of the date of this
press release. The Company undertakes no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future developments or otherwise, except as may be
required by any applicable securities laws.
Contact
GameStop Corp. Investor Relations(817)
424-2001ir@gamestop.com
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