After the market on June 7 EST, which was previously famous for “retail group stocks” $GameStop (GME.US)$The financial report for the first quarter of fiscal year 2023 was disclosed, and some indicators for the period fell short of expectations.
Additionally, the company fired CEO Matt Furlong (Matt Furlong).
or affected by the above news,GameStop's stock price plummeted 19.23% after the market on the same day.However, the stock's recent overall performance has been good. Not counting the after-market decline on June 7th,Its stock price has risen by 40.75% since May 2.
Revenue declined year over year, but losses narrowed
GameStop (GameStop) is an American offline game retailer that mainly provides games, entertainment products and technology to customers in the US, Canada, Australia and Europe through its e-commerce assets and stores. The products include game CDs, game software, electronic accessories, etc.
In recent years, the company's situation has not been very good. The reason is that offline game retailers are facing difficulties similar to those in the department store industry. On the one hand, the development of digital technology has led to fewer customers, and the pandemic has also had an impact.
It is reflected in performance,GameStation's revenue has clearly dropped to a level since FY2019, and its net profit to mother has been in a loss since FY2018.
In the first quarter of fiscal year 2023,GameStation achieved revenue of US$1,237 billion, a year-on-year decrease of 10.25%...