Why is GameStop FAILING? - Rant Video
1,447The mega gaming retail store GameStop is running of money fast. They have lost nearly 500 MILLION dollars in the 3 months, but how are they failing so hard? Let's rant about it!
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GameStop, the largest video game retailer in North America, has reported its third quarter 2018/2019 financial results this week.
According to the report, total global sales increased by 4.8%. Across the board, hardware sales, software sales, accessory sales, and digital sales increased between 12.8% and 32.6%. However, pre-owned sales were down by 13.4%.
Despite the overall strong growth in sales, GameStop made a net loss of USD488 million in the third quarter. The loss could have been worse if not for the sale of former GameStop company Spring Mobile, which brought in USD700 million.