For that holiday period, the nine weeks ending January 2, 2021, GameStop reported its sales at $1.77 billion, down 3.1 percent from holiday 2019.
The end of 2020 was an important period for GameStop, with the company long looking toward both the arrival of a new console generation and the holiday shopping period to reinvigorate sales.
The company attributes that decline heavily to COVID-19 complications and a smaller store fleet (due to its downsizing efforts), as well as an “industry-wide traffic decline during the holiday period” and a short supply of next-generation hardware that couldn’t remotely keep up with demand.
“GameStop maintained its status as the omni-channel destination for gaming and entertainment with unprecedented demand for the new gaming consoles and a significant increase in E-Commerce sales,” says Sherman.