{"id":33544,"date":"2022-06-02T13:23:04","date_gmt":"2022-06-02T13:23:04","guid":{"rendered":"https:\/\/harchi90.com\/gamestop-sales-climb-along-with-shares-even-as-loss-widens\/"},"modified":"2022-06-02T13:23:04","modified_gmt":"2022-06-02T13:23:04","slug":"gamestop-sales-climb-along-with-shares-even-as-loss-widens","status":"publish","type":"post","link":"https:\/\/harchi90.com\/gamestop-sales-climb-along-with-shares-even-as-loss-widens\/","title":{"rendered":"GameStop sales climb along with shares even as loss widens"},"content":{"rendered":"
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GameStop Corp. sales rose as more people returned to its stores last quarter, but its loss widened, damping investors’ hopes for signs of a turnaround for the videogame retailer.<\/p>\n
The Grapevine, Texas-based company posted on Wednesday $ 1.38 billion in net sales for the quarter through April 30, up from $ 1.28 billion a year earlier. On an adjusted basis, the retailer reported a loss of $ 2.08 a share, compared with a loss of 45 cents a share over the same period a year ago. Three analysts polled by FactSet expected net sales of $ 1.32 billion and an adjusted loss of $ 1.45 a share.<\/p>\n
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GameStop said it expanded its inventory to $ 917.6 million from $ 570.9 million a year earlier and ended the period with cash and cash equivalents of $ 1.04 billion. While hardware sales declined, that slide was offset by growth in sales of software and collectibles, the company said.<\/p>\n