- GameStop (NYSE:GME) reports same-store sales plunged 11% in Q2. Sales of new video game hardware fell to 33% Y/Y during the quarter.
- Revenue mix: New video game hardware $216.4M (13.3% of total), New video game software $382M (23.4%), Pre-owned and value video game products $543M (33.3%), Video game accessories $120M (7.3%), Digital $36M (2.2%), Mobile and consumer electronics $203M (13%), Collectibles $90M (5.5%).
- The company's gross profit rate rose 500 bps to 37.9% off the shift in mix.
- GameStop expects FQ3 comparable-store sales to fall in a range of -2% to +1%. Q3 EPS of $0.53-$0.58 is expected.
- Previously: GameStop EPS in-line, misses on revenue (Aug. 25)
- GME -6.44% AH to $30.09.