GameStop stock decreased after a 27.5% decrease in holiday sales by MattRyanPerez
a 27.5% decrease in holiday sales to $1.8 billion, which sent its stock diving as much as 16%.
The decrease seems to have caught GameStop by surprise, as the company is now lowering its fiscal 2019 guidance from a decline in the high teens to between 19%-21%.This past fall and holiday season for gaming lacked anything close to the success of 2018's, which earned $725 million in three days of sales, and the period also saw a decrease in console sales given the impending release of the PlayStation 5 and Xbox Series X at the end of 2020.
The company shared some optimism: inventory should be down 26% year-over-year when it reports its annual earnings in March, with cash and liquidity around $900 million. Decreasing sales this past year has resulted in store closures and layoffs, including cutting 14% of its staff last August., a 25.7% decrease from the previous year, as well as a $83.4 million income loss.GameStop's CEO George Sherman: “We expected a challenging sales environment for the holiday season as our customers continue to delay purchases ahead of anticipated console launches in late 2020.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Slideshow: Stock Your Natural Medicine CabinetLiving with migraines? Magnesium supplements may help them go away over time. And some early research shows that magnesium may combat depression symptoms and may lower blood pressure, too.
Baca lebih lajut »
5 things to know before the stock market opens MondayU.S. stock futures were pointing to a higher open after the Dow briefly traded above 29,000 for the first time ever on Friday but closed lower.
Baca lebih lajut »
Walmart adding robots that help stock shelves to 650 more stores - Business InsiderThe Bossa Nova robots, which are designed to scan items on shelves to assist with price accuracy and restocking, are already present in 350 stores.
Baca lebih lajut »
The 47,500% Return: Meet The Billionaire Family Behind The Hottest Stock Of The Past 30 YearsHeico was a down-on-its-luck maker of a single aircraft part before the Mendelson family made the publicly traded company soar—and a billion-dollar fortune for themselves.
Baca lebih lajut »
85 Gadgets on Amazon Customers Will Buy Till They're Out of Stock — We're Predicting ItThe coolest gadgets on Amazon
Baca lebih lajut »
The 47,500% Return: Meet The Billionaire Family Behind The Hottest Stock Of The Past 30 YearsSince 1990, when the Mendelsons took over the Hollywood, Florida-based business, Heico has generated a total return of some 47,500%. (No, that’s not a typo. All those digits are correct.)
Baca lebih lajut »