GameStop (GME) Announces Prelim. Sales Results for First Nine Weeks of Fiscal 2021 Reflecting an Approximately 11% Increase

April 5, 2021 6:10 AM EDT
Get Alerts GME Hot Sheet
Price: $154.69 -1.12%

EPS Growth %: +5.5%

Financial Fact:
Interest expense: 14.8M

Today's EPS Names:
CVU, BK, KSU, More
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

GameStop Corp. (NYSE: GME), today announced preliminary unaudited sales results for the first quarter to date period representing the nine-weeks ended April 3, 2021, as compared to the nine weeks ended April 4, 2020.

Preliminary Sales Performance

  • For the first nine-weeks of fiscal 2021, total global sales increased approximately 11% from the nine-week period ended April 4, 2020
  • February: the four-week period ended February 27, 2021 total global sales increased approximately 5.3% from the four-week period ended February 29, 2020
  • March: the five-week period ended April 2, 2021,total global sales increased approximately 18% from the five week period ended April 4, 2020.

As a reminder, during the first quarter of fiscal 2020 and due to the spread of COVID-19 around the world, the Company’s various operations across 14 countries were negatively impacted due to temporary store closures and other government mandated restrictions that resulted in limited operations. During the first nine weeks of fiscal 2021, similar government mandated restrictions resulted in limited operations, primarily in Europe, and the Company operated with an approximately 13% decrease in the store base due to its strategic store optimization efforts.

The Company’s sales are preliminary and subject to completion of the month-end and quarter-end closing process and adjustments. As the Company has not completed its month-end and first quarter fiscal 2021 close process, the sales presented in this press release may change. The preliminary sales data presented in this press release have been prepared by, and are the responsibility of, our management. The preliminary sales data has not been compiled or examined by our independent auditors nor have our independent auditors performed any procedures with respect to this data or expressed any opinion or any form of assurance on such data. In addition, the preliminary sales data is not necessarily indicative of the results to be achieved for the quarter ending May 1, 2021 or for any future period. See “Cautionary Statement Regarding Forward-Looking Statements – Safe Harbor.”

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Guidance, Hot Guidance

Related Entities

Twitter, Earnings