GameStop posts first quarterly profit in two years
revamp its real estate portfolioFor the full fiscal year, GameStop saw $5.93 billion in sales, down slightly from $6.01 billion in fiscal 2021, and saw increased revenues from its collectibles category, which the retailer is banking will bring long-term growth for the company.that left it with a backlog of inventory after it previously tried to meet high demand. The company is still hanging on to $682.
As part of its revival strategy, GameStop has also been trying to improve its cash balance. This quarter, its cash and cash equivalents were $1.39 billion. While managing the burdens of brick-and-mortar, the company has also been working to find its digital identity. So far, those experiments have come with a few missteps.
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