GameStop Q2 net sales fall on store closures, France business divestiture

GameStop

08/09/2026 14:15

Overview
U.S. video game retailer's Q2 net sales fell yr/yr, driven by store closures and divestitures
Collectibles net sales grew 57% yr/yr and now represent 45% of total sales
Company raised fiscal yr 2026 adjusted EBITDA outlook to over $650 mln

Outlook
GameStop raises fiscal 2026 Adjusted EBITDA outlook to over $650 mln, up from $600 mln

Result Drivers
COLLECTIBLES GROWTH - Collectibles net sales rose 57% yr/yr, now making up 45% of total sales
STORE CLOSURES AND DIVESTITURE - Net sales decline attributed to prior-year Nintendo Switch 2 launch, planned store closures, and France operations divestiture
LOWER OPERATING EXPENSES - SG&A expenses fell to $187.1 mln from $218.8 mln a year ago

Company press release: ID:nBw2Nfbxsa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Beat
$790.20 mln
$756.85 mln (1 Analyst)
Q2 Adjusted EPS
Meet
$0.27
$0.27 (1 Analyst)
Q2 Net Income
 
$298.70 mln
 
Q2 Gross Profit
 
$345 mln
 
Q2 Operating Income
 
$160.20 mln
 

Analyst Coverage
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 19 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)