Net sales increased by 25.1 percent at GameStop during the first fiscal quarter to $1.28 billion from $1.02 billion, according to the company’s Q1 2021 financial report.
“The Company’s second quarter sales trends continue to reflect momentum, with May total sales increasing approximately 27 percent compared to last year.”
The report highlights a gross margin of 25.9 percent, a decline of 180 basis points compared to the fiscal 2020 first quarter.
It also reveals GameStop made a net loss of $40.8 million in Q1 2021 compared to a loss of $108 million in Q1 2020, with an adjusted operating loss of $21.6 million compared to a loss of $98.8 million over the same period.