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GameStop Corp. (GME) CEO George Sherman on Q1 2020 Results - Earnings Call Transcript

Jun. 09, 2020 8:22 PM ETGameStop Corp. (GME)2 Comments
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GameStop Corp. (NYSE:GME) Q1 2020 Earnings Conference Call June 9, 2020 5:00 PM ET

Company Participants

Eric Cerny - IR

George Sherman - CEO

Jim Bell - EVP & CFO

Conference Call Participants

Stephanie Wissink - Jefferies

Raymond Stochel - Consumer Edge Research

Curtis Nagle - Bank of America Merrill Lynch

Seth Sigman - Credit Suisse

Carla Casella - JPMorgan

William Reuter - Bank of America Merrill Lynch

Bryan Hunt - Wells Fargo


Greetings, welcome to the GameStop First Quarter 2020 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to your host, Eric Cerny, Investor Relations. You may begin.

Eric Cerny

Thank you, and welcome to GameStop’s first quarter fiscal 2020 earnings conference call. This call will include forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Any such statement should be considered in conjunction with the cautionary statements and the Safe Harbor statement in the earnings release and risk factors discussed in reports filed with the SEC. GameStop assumes no obligation to update any of these forward-looking statements or information.

A reconciliation and other information regarding non-GAAP financial measures discussed on the call can be found in the earnings release issued earlier today, as well as the Investors section of our website. With me today are GameStop’s, Chief Executive Officer, George Sherman; and Chief Financial Officer, Jim Bell. On today’s call, George will share insights into our first quarter performance and updates regarding GameStop’s strategic framework for the future. Jim will then provide more detail on our financial results and expectations for fiscal 2020. Then, we’ll open the call to take your questions.

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Comments (2)

Jim and Bryan seem fond of each other.
One highlight from George: The Nintendo Switch continues to perform well far exceeding our expectations, with sales increasing during the quarter compared to last year. In fact, we believe we sold more Nintendo Switch consoles than any other retailer or e-commerce business globally in the first quarter.

I believe the same will happen for XSX and PS5. Given the current economic downturn and higher price tag for new consoles, trading will be much more active than previous cycles.

I am long I could be biased.
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