GameStop Corp. Files 2024 10-K Report

TL;DR

<b>GameStop Corp. has filed its annual 10-K report detailing financial performance and operational segments for the fiscal year ending February 3, 2024.</b>

AI Summary

GameStop Corp. (GME-WT) filed a Annual Report (10-K) with the SEC on March 26, 2024. GameStop Corp. filed its 10-K report for the fiscal year ending February 3, 2024. The filing covers the fiscal years 2021, 2022, and 2023. Key financial data points include common stock, additional paid-in capital, accumulated other comprehensive income, and retained earnings. Segment data for Europe, Selling, General & Administrative Expenses, Video Game Hardware & Accessories, Software, and Collectibles are included. The company's principal executive offices are located at 625 Westport Parkway, Grapevine, TX 76051.

Why It Matters

For investors and stakeholders tracking GameStop Corp., this filing contains several important signals. This 10-K filing provides a comprehensive overview of GameStop's financial health and operational structure for the past fiscal year, crucial for investors assessing the company's performance and future prospects. The detailed segment information and financial data allow stakeholders to understand revenue streams and cost structures, aiding in investment decisions and competitive analysis.

Risk Assessment

Risk Level: medium — GameStop Corp. shows moderate risk based on this filing. The company operates in the retail sector, which is subject to significant competition and changing consumer preferences, as evidenced by the various product segments reported.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand GameStop's current financial position and strategic direction.

Revenue Breakdown

Key Numbers

• 2024-02-03 — Fiscal Year End (The end date of the reporting period.)
• 2024-03-26 — Filing Date (The date the 10-K was filed with the SEC.)
• 0001326380-24-000012 — Accession Number (Unique identifier for the SEC filing.)

Key Players & Entities

• GameStop Corp. (company) — Filer of the 10-K report.
• 0001326380-24-000012 (other) — Accession number for the filing.
• 2024-02-03 (date) — Fiscal year end date.
• 2024-03-26 (date) — Filing date.
• 625 Westport Parkway, Grapevine, TX 76051 (location) — Business and mailing address.
• GSC Holdings Corp. (company) — Former company name.

FAQ

Key Dates

• 2024-02-03: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-26: Filing Date — Date the 10-K was officially submitted to the SEC.

Key Financial Figures

• $21.93 — based upon the closing market price of $21.93 per share of Class A Common Stock on th
• $0.8 million — en emergency or hardship, and more than $0.8 million in scholarships. Available Informatio

Filing Documents

• gme-20240203.htm (10-K) — 1513KB
• ex211-fy23q4.htm (EX-21.1) — 7KB
• ex231-fy23q4.htm (EX-23.1) — 3KB
• ex311-fy23q4.htm (EX-31.1) — 18KB
• ex312-fy23q4.htm (EX-31.2) — 17KB
• ex321-fy23q4.htm (EX-32.1) — 6KB
• ex322-fy23q4.htm (EX-32.2) — 6KB
• ex971-fy23q4.htm (EX-97.1) — 25KB
• gme-20240203_g1.jpg (GRAPHIC) — 686KB
• gme-20240203_g2.jpg (GRAPHIC) — 200KB
• 0001326380-24-000012.txt (&nbsp;) — 10464KB
• gme-20240203.xsd (EX-101.SCH) — 62KB
• gme-20240203_cal.xml (EX-101.CAL) — 103KB
• gme-20240203_def.xml (EX-101.DEF) — 241KB
• gme-20240203_lab.xml (EX-101.LAB) — 732KB
• gme-20240203_pre.xml (EX-101.PRE) — 500KB
• gme-20240203_htm.xml (XML) — 1265KB

Risk Factors

Item 1A. Risk Factors 6

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 14

Cybersecurity

Item 1C. Cybersecurity 14

Properties

Item 2. Properties 16

Legal Proceedings

Item 3. Legal Proceedings 16

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 16 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 17

Reserved

Item 6. Reserved 18

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 25

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 27

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 61

Controls and Procedures

Item 9A. Controls and Procedures 61

Other Information

Item 9B. Other Information 64

Disclosure Regarding Foreign Jurisdictions That Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 64 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 65

Executive Compensation

Item 11. Executive Compensation 65

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 65

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 65

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 65 PART IV

Exhibits and Financial Statement Schedule

Item 15. Exhibits and Financial Statement Schedule 66

Form 10-K Summary

Item 16. Form 10-K Summary 68

SIGNATURES

SIGNATURES 69 Disclosure Regarding Forward-looking Statements This Annual Report on Form 10-K ("Form 10-K") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). In some cases, forward-looking statements can be identified by the use of terms such as "anticipates," "believes," "continues," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "pro forma," "seeks," "should," "will" or similar expressions. These statements are only predictions based on current expectations and assumptions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. All forward-looking statements included in this Form 10-K are based upon information available to us as of the filing date of this Form 10-K, and we undertake no obligation to update or revise any of these forward-looking statements for any reason, whether as a result of new information, future events or otherwise after the date of this Form 10-K, except as required by law. You should not place undue reliance on these forward-looking statements. The forward-looking statements involve a number of risks and uncertainties. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. A number of factors could cause our actual results, performance, achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Factors that might cause su

BUSINESS

ITEM 1. BUSINESS General GameStop Corp. ("GameStop," "we," "us," "our," or the "Company") offers games and entertainment products through its stores and ecommerce platforms. Our fiscal year is composed of the 52 or 53 weeks ending on the Saturday closest to the last day of January. Fiscal year 2023 consisted of the 53 weeks ended on February 3, 2024 ("fiscal 2023"). Fiscal year 2022 consisted of the 52 weeks ended on January 28, 2023 ("fiscal 2022") and fiscal year 2021 consisted of the 52 weeks ended on January 29, 2022 ("fiscal 2021"). Reportable Segments We operate in four geographic segments: United States, Canada, Australia and Europe. We identified segments based on a combination of geographic areas, which is the basis of how we manage the organization and analyze performance. Our Australia geographic segment includes operations in New Zealand for reporting. Our sales and profits are driven through both our physical stores and ecommerce platforms. Each segment consists primarily of retail operations, with the significant majority focused on games, entertainment products and technology. These products are substantially the same regardless of geographic location, with the primary differences in merchandise carried being the timing of the release of new products in the various segments. As of February 3, 2024, we had a total of 4,169 stores across all of our segments: 2,915 in the United States, 203 in Canada, 404 in Australia, and 647 in Europe. Our stores and ecommerce sites operate primarily under the names GameStop , EB Games and Micromania . Our Australia and Europe segments also include 49 pop culture themed stores selling collectibles, apparel, gadgets, electronics, toys and other retail products for technology enthusiasts and general consumers in international markets operating under the Zing Pop Culture brand. Our brands also include our print and digital gaming publication, Game Informer magazine. Financial information about our segments is incl

RISK FACTORS

ITEM 1A. RISK FACTORS An investment in our Company involves a high degree of risk. You should carefully consider the risks below, together with the other information contained in this report and other filings we make with the SEC, before you make an investment decision with respect to our Company. The risks described below are not the only ones facing us. Additional risks not presently known to us, or that we consider immaterial, may also impair our business operations. Any of the following risks could materially adversely affect our business, operating results or financial condition, and could cause a decline in the trading price of our Class A Common Stock and the value of your investment. Economic and Industry Risks Economic, social and political conditions in the markets in which we operate could adversely affect demand for the products we sell and impact our business and financial condition. Sales of our products involve discretionary spending by consumers, making our results highly dependent on the health of the economies and consumer confidence in the markets in which we operate. Consumers are typically more likely to make discretionary purchases, including purchasing gaming and technology products, when there are favorable economic conditions. Our business may be affected by many economic, social, and political factors outside our control. Some of these factors include consumer disposable income levels, consumer confidence in current and future economic conditions, levels of employment, consumer credit availability, consumer debt levels, interest rates, tax rates, housing market conditions, inflation, tariffs, socio-political factors, such as civil unrest or political uncertainty, and the effect of weather, natural disasters, and public health crises. Adverse economic, social and political changes in any of the regions in which we sell our products could adversely affect our business in many ways, including reduced sales and margins. We face strong comp

View Full Filing

View this 10-K filing on SEC EDGAR