Gamestop revenue dips as it pulls nearly $6bn in 2022
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Video game retailer GameStop has seen a 1.4% dip for the fiscal year 2022 as it amassed $5.93 billion in net sales. Meanwhile, the company reported that net sales hit $2.2 billion during its fourth quarter, a decrease of 1.2% year-over-year.
The company released its financial results for the 12-month period that ended on January 28, 2023. Here's what you need to know:
Gamestop's full-year net loss reached $313 million, by comparison the figure was $381.3 million in 2021. The retailer's collectibles business segment was the only positive performer, increasing 17% to $964.6 million in 2022.
Hardware and accessories accounted for 53% of the year's earnings, while video game software comprised 31% of net sales.
During Q4 2022, net losses hit $48.2 million, during the same period last the figure was $147 million.
The quarter saw its hardware and accessories and collectible divisions increase revenue year-on-year. Hardware and accessories were up 4.5%, which amassed 1.24 billion during the three months.
Meanwhile, collectibles pulled in $313.2 million, up 12% compared to last year.
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