GameStop said quarterly sales declined and losses widened, as its inventory of video game equipment and more swelled.
As sales declined overall, GameStop, which launched an NFT marketplace in July, pointed to growth of some newer businesses.SAN RAFAEL, CALIFORNIA - DECEMBER 08: Customers enter a GameStop store on December 08, 2021 in San Rafael, California. Video game retailer GameStop will report third quarter earnings today after the closing bell. said Wednesday that quarterly sales declined and losses widened, as its inventory of video game equipment and more swelled.
In the second fiscal quarter ended July 30, the video game retailer's total sales dropped to $1.14 billion from $1.18 billion in the year-ago period. Its losses widened to $108.7 million, or 36 cents per share, compared with a loss of $61.6 million, or 21 cents, a year prior.Inventory ballooned to $734.8 million at the close of the quarter. That's up from $596.4 million at the close of the prior year's second quarter.
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