Gamestop Corporation - Ordinary Shares - Class A

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Officer Changes, Other Pre-Announcement

Gamestop Reports Q4 Adjusted Earnings Per Share $1.34

Published: 03/23/2021 21:07 GMT
Gamestop Corporation - Ordinary Shares - Class A (GME) - Gamestop Reports Fourth Quarter and Fiscal 2020 Results.
Q4 Adjusted Earnings per Share $1.34.
Q4 Earnings per Share Estimate $1.35 -- Refinitiv Ibes Data (analyst estimates).
Announces Appointment of Technology Veteran Jenna Owens As New Chief Operating Officer.
Achieved 6.5% Increase in Comparable Store Sales During Q4, With Global E-commerce Sales Increasing 175% for Q4.
Qtrly Net Sales Were $2.122 Billion Compared to $2.194 Billion in the Fiscal 2019 Fourth Quarter.
Qtrly Net Income Was $80.5 Million, Or $1.19 per Diluted Share.
Owens Has Spent Majority of Past Decade in Executive Roles at Amazon and Google.
Continuing to Suspend Guidance at This Time.
Continuing to Actively Pursue Senior Talent With E-commerce, Retail and Technology Experience.
Does Not Currently Intend to Report Comparable Store Sales Metric in Fiscal 2021.
Believes Total Net Sales is the More Appropriate Metric to Evaluate the Performance of the Business at This Time.
February Comparable Store Sales Increased 23%, Led by Continued Strength in Global Hardware Sales.
Emphasis in 2021 Will Be on Improving E-commerce and Customer Experience.
Gamestop - Continuing to Position Brick-and-mortar Footprint, Digital Assets to Capitalize on Emerging Console Cycle, Additional Gaming Opportunities.
Gamestop - As of January 30, 2021, Had $635 Million in Cash and Restricted Cash Compared to $513.5 Million in Cash and Restricted Cash in Prior Year.