GameStop cut its loss on a substantial sales decline in Q3, the company reported in its quarterly financials. Sales were down 9.1% overall to $1.078 billion from $1.186 billion in the year ago period, and down 13.3% in the U.S. The biggest percentage change in sales was in the collectibles category (including tabletop games and merch), where sales were down 14.3% to $29.7 million for the quarter. Game software and hardware and accessories were both down around 7.5%.
GameStop lost $3.1 million in the quarter, a big improvement from the $94.7 million loss in the year ago quarter, primarily behind cost cuts. Sales have been dropping pretty rapidly at GameStop, especially in the collectibles category, but costs have been cut faster, stanching the bleeding of cash to fund operating losses (see “GameStop Collectible Sales Plummet“).
Source: ICv2
