GameStop sales rise 25% as retailer chases e-commerce growth, says it may sell 5 million shares

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GameStop sales rise 25% as retailer chases e-commerce growth, says it may sell 5 million shares

cnbc2021-06-10

GameStop's sales rose 25% in the fiscal first quarter, as the video game retailer embarks on a turnaround strategy partially fueled by a Reddit-inspired stock rally. The company also named ...

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RickSanchez
·2021-06-19
Can't stop. Won't stop. GameStop.
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Xxh
·2021-06-10
Lol
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3
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Halim77
·2021-06-10
Serious gaming here.. when will it stop? ;)
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5
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AaronNg
·2021-06-10
Comment and like please, thank you
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2
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- miaomee:
  Like n comment back pls
  2021-06-11
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Deonc
·2021-06-10
Wow
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3
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TeikLeong
·2021-06-10
Like
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3
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- AaronNg:
  Very Nice
  2021-06-10
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WenJieRusty
·2021-06-10
Last chance
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1
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HoldTheDoor
·2021-06-10
Apes together strong
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- Vivberry:
  Game no stop
  2021-06-10
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trojan1337
·2021-06-10
Like and comment pls
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- trojan1337:
  sure done!
  2021-06-10
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- nuttywalnut:
  Like comment back please
  2021-06-10
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MIe
·2021-06-10
GameStop revenue up after 3 years is a good start turning corner, more work and e-commerce transformation to prove
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- tkj:
  I agree but not giving a full year forecast does give the impression that this could be a flute shot and not sustainable....
  2021-06-10
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- WCS1981:
  A company saved by retail investor?
  2021-06-10
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- WCS1981:
  Hopefully they can turn around their business with the money raised.
  2021-06-10
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yct
·2021-06-10
? with real fundamentals
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- Vivberry:
  Not meme
  2021-06-10
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MNCoffee
·2021-06-10
game?
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5
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- dtjj16:
  bamestop
  2021-06-10
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Jing Hao
·2021-06-10
To the moon! ~ ??
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6
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- francis3:
  [Happy]
  Please comment and like back
  2021-06-10
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- trojan1337:
  repl pls ??
  2021-06-10
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- Rem35:
  ?
  2021-06-10
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FrickL
·2021-06-10
Too late to buy.
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- trojan1337:
  not really
  2021-06-10
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- kenong62:
  buy CLNE
  2021-06-10
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NEWBIE
·2021-06-10
Staying out
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JCai
·2021-06-10
Like and comment pls
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- 青龙31:
  comment too
  2021-06-10
  Reply
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jiaxinn
·2021-06-10
Like
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- JCai:
  like and comment pls
  2021-06-10
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rsaje
·2021-06-10
Like and comment please
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- Jing Hao:
  Comment
  2021-06-10
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AlphaSpiker
·2021-06-10
Gaming counter for gamers :)
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- Skai:
  ???
  2021-06-10
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- Bentofighter:
  ?
  2021-06-10
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The company also named ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/09/gamestop-gme-earnings-q1-2021.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GME","symbol_name":"游戏驿站","start_time":0,"source_url":"https://www.cnbc.com/2021/06/09/gamestop-gme-earnings-q1-2021.html","article_id":"1170607354","we_media_id":null,"thumbnails":[],"rights":{"source":"cnbc_highlight","url":"https://www.cnbc.com/2021/06/09/gamestop-gme-earnings-q1-2021.html","rn_cache_url":null,"customStyle":"body{padding-top:10px;}.ArticleHeader-headline{#titleStyle#}a{#lv2TextColor#}.ArticleHeader-time, .Author-authorNameAndSocial a{#sourceStyle#;}","selectors":".PageBuilder-pageWrapper","filters":".ArticleHeader-eyebrow, .RelatedTags-relatedTags","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1170607354","pubTimestamp":1623280906,"columns":[],"sourceInfo":{"source_id":"cnbc_highlight","name":"CNBC"},"weMediaInfo":null,"summary":"GameStop's sales rose 25% in the fiscal first quarter, as the video game retailer embarks on a turna","collect":0,"end_time":0,"defaultTopTitle":"cnbc.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GME":"游戏驿站"},"translate_title":"游戏驿站销售额增长25%，零售商称可能出售500万股","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GME":0.9},"content_text":"GameStop's sales rose 25% in the fiscal first quarter, as the video game retailer embarks on a turnaround strategy partially fueled by a Reddit-inspired stock rally. The company also named formerAmazonexecutive Matt Furlongas its new CEO.\nShares once fell more than 12% in extended trading on Wednesday, after the company declined to provide an outlook for the year and said it may sell as many as 5 million shares.\nHere's how the company did for the fiscal first quarter ended May 1, compared with Refinitiv consensus estimates:\n\nLoss per share: 45 cents per share adjusted vs. 84 cents expected\nRevenue: $1.28 billion vs. $1.16 billion expected\n\nIn the quarter, GameStop reported that its net loss narrowed to $66.8 million, or $1.01 per share, from a loss of $165.7 million, or $2.57 per share, a year earlier. Excluding items, the company had a loss of 45 cents per share. Analysts were expecting GameStop to report a loss of 84 cents per share, according to Refinitiv.\nTotal revenue grew to $1.28 billion from $1.02 billion a year earlier, topping Wall Street's expectations of $1.16 billion.\nThe company declined to provide a forecast for the year. It said sales momentum continued into the second quarter, with total sales in May increasing about 27% compared with the same month a year ago.\nGameStop filed a prospectus with the Securities and Exchange Commission to sell up to 5 million shares of its stock from time to time, in \"at-the-market\" offerings. The funds it raises through these stock sales will be used for general corporate purposes, investing in growth initiatives and strengthening its balance sheet, the company said.\nAs of May 1, GameStop said, it had paid off its long-term debt and no longer had any borrowings under its asset-based revolving credit facility.\nThe video game retailer's stock has gyrated wildly over the past several months as retail traders have shared tips on Reddit and tried to fuel short squeezes for companies including GameStop,AMC Entertainment,Bed Bath & BeyondandClover Health— collectivelythe group has become known as meme stocks.\nGameStop's shares are up 1,506% so far this year. Its shares have swung from a 52-week low of $3.77 to a 52-week high of $483. As of Wednesday's close, shares were $302.56. Its market value is $21.41 billion.\nThe trading frenzy has gotten the attention of the SEC. In a filing Wednesday, GameStop said it had received a request from the SEC on May 26 to voluntarily provide documents and information. The company said it was reviewing that request and planned to cooperate.\nGameStop has tried to catch investors' attention in other ways, as it focuses more on e-commerce and poaches talent from other companies. This spring, it tappedChewyco-founderRyan Cohen to lead efforts to grow the online business. He was named chairman at a shareholder meeting Wednesday. The company also hired several formerAmazonexecutives, including Jenna Owens, its new chief operating officer; Matt Francis, its first chief technology officer; and Elliott Wilke, its chief growth officer.\nYet some analysts are unconvinced that the longtime brick-and-mortar retailer can pivot its business and believe the company has been propped up by speculation.\nLoop Capital analyst Anthony Chukumba dropped his coverage of GameStop earlier this year following the Reddit frenzy. He told CNBC that the video game retailer's challenges run deep regardless of who it hires.\n\"It's great that these guys worked at Amazon. Amazon is a very successful retailer that I do cover, that I'm very familiar with, but at the end of the day, GameStop's problems have very little, if anything, to do with e-commerce,\" Chukumba said on CNBC's \"Closing Bell.\"\n\"Their problem is not that they're not a good omnichannel retailer. The problem is that gamers are increasingly downloading video games,\" he added. \"Look, they can hire Jeff Bezos when he comes back from space. ... It's not going to make a difference. The symptoms are not aligned with the medicine that the doctor is giving them. You can hire anyone you want from Amazon — not going to make a difference.\"","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":165990354,"gmtCreate":1624084643978,"gmtModify":1703828569773,"author":{"id":"3579085558836279","authorId":"3579085558836279","name":"RickSanchez","avatar":"https://static.tigerbbs.com/91da9e11212a16198232f78ed3ff2a9d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579085558836279","authorIdStr":"3579085558836279"},"htmlText":"Can't stop. Won't stop. GameStop.","listText":"Can't stop. Won't stop. 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gaming here.. when will it stop? ;)","listText":"Serious gaming here.. when will it stop? ;)","text":"Serious gaming here.. when will it stop? ;)","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183801148","repostId":1170607354,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":183102692,"gmtCreate":1623312688516,"gmtModify":1704200639279,"author":{"id":"3559167756156665","authorId":"3559167756156665","name":"AaronNg","avatar":"https://static.tigerbbs.com/0fbfb121556dc390305847fad3f4ced2","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":5,"crmLevelSwitch":0,"idStr":"3559167756156665","authorIdStr":"3559167756156665"},"htmlText":"Comment and like please, thank you","listText":"Comment and like please, thank you","text":"Comment and like please, thank you","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/183102692","repostId":1170607354,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4672815,"gmtCreate":1623365661474,"gmtModify":1663228397938,"authorId":3569375896365334,"author":{"id":3569375896365334,"idStr":"3569375896365334","authorId":3569375896365334,"name":"miaomee","avatar":"https://static.tigerbbs.com/fd309d5a46384576888494b61b0e5953","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":183102692,"type":1,"supId":0,"prevId":0,"content":"Like n comment back <u>pls</u>","text":"Like n comment back <u>pls</u>","html":"Like n comment back <u>pls</u>"}],"langContent":"EN"},{"id":183355734,"gmtCreate":1623310549428,"gmtModify":1704200599395,"author":{"id":"3569316529855154","authorId":"3569316529855154","name":"Deonc","avatar":"https://static.tigerbbs.com/d9aa45dd2eb58357f6477dcfb99d1415","vip":1,"crmLevel":3,"crmLevelSwitch":1,"idStr":"3569316529855154","authorIdStr":"3569316529855154"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183355734","repostId":1170607354,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":183360704,"gmtCreate":1623308444708,"gmtModify":1704200562099,"author":{"id":"3581504913688063","authorId":"3581504913688063","name":"TeikLeong","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3581504913688063","authorIdStr":"3581504913688063"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/183360704","repostId":1170607354,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4664127,"gmtCreate":1623312704181,"gmtModify":1663228352738,"authorId":3559167756156665,"author":{"id":3559167756156665,"idStr":"3559167756156665","authorId":3559167756156665,"name":"AaronNg","avatar":"https://static.tigerbbs.com/0fbfb121556dc390305847fad3f4ced2","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":183360704,"type":1,"supId":0,"prevId":0,"content":"Very Nice","text":"Very Nice","html":"Very Nice"}],"langContent":"EN"},{"id":183947129,"gmtCreate":1623303784161,"gmtModify":1704200476571,"author":{"id":"3575125355414670","authorId":"3575125355414670","name":"WenJieRusty","avatar":"https://static.tigerbbs.com/753860602694d368820ebf87f16ee59d","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3575125355414670","authorIdStr":"3575125355414670"},"htmlText":"Last chance&nbsp;","listText":"Last chance&nbsp;","text":"Last chance","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183947129","repostId":1170607354,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":183992589,"gmtCreate":1623298772641,"gmtModify":1704200371984,"author":{"id":"3580469278772937","authorId":"3580469278772937","name":"HoldTheDoor","avatar":"https://static.tigerbbs.com/635db0f1af7cd6ef4ce184b75309a7b0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3580469278772937","authorIdStr":"3580469278772937"},"htmlText":"Apes together strong&nbsp;","listText":"Apes together strong&nbsp;","text":"Apes together strong","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/183992589","repostId":1170607354,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4667839,"gmtCreate":1623331713916,"gmtModify":1663228371237,"authorId":3580092330105291,"author":{"id":3580092330105291,"idStr":"3580092330105291","authorId":3580092330105291,"name":"Vivberry","avatar":"https://static.tigerbbs.com/8d8a4ce0041edafbf8e072bb66c313e5","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":183992589,"type":1,"supId":0,"prevId":0,"content":"Game no stop","text":"Game no stop","html":"Game no 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