GameStop Discloses Second Quarter 2023 Results
September 6, 2023
SECOND QUARTER OVERVIEW
Net sales were $1.164 billion for the period, compared to $1.136 billion in the prior year's second quarter.
Selling, general and administrative (“SG&A") expenses were $322.5 million, or 27.7% of net sales for the period, compared to $387.5 million, or 34.1% of net sales, in the prior year's second quarter.
Net loss was $2.8 million for the period, compared to a net loss of $108.7 million for the prior year’s second quarter.
Transition costs related to European restructuring efforts were $4.3 million for the second quarter.
Cash, cash equivalents and marketable securities were $1.195 billion at the close of the quarter.
Long-term debt remains limited to one low-interest, unsecured term loan associated with the French government’s response to COVID-19.
The Company will not be holding a conference call today. Additional information can be found in the Company’s Form 10-Q.