GameStop Q4 Earnings: Sales Fall 14%, but $9 Billion Cash Pile Puts Ryan Cohen’s Next Move in Focus. (Business Wire)
GameStop’s fourth-quarter revenue fell 14% to $1.104 billion, with net income down to $127.9 million. Cash, cash equivalents, and marketable securities jumped to $9.0 billion from $4.8 billion a year earlier. Collectibles made up 33.1% of sales as hardware and software revenue dropped. GameStop signed an agreement for a possible sale of its French operations and is winding down in New Zealand.