GameStop Files Q2 2024 10-Q
Ticker: GME-WT · Form: 10-Q · Filed: Sep 10, 2024 · CIK: 1326380
| Field | Detail |
|---|---|
| Company | Gamestop CORP. (GME-WT) |
| Form Type | 10-Q |
| Filed Date | Sep 10, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, earnings, financials
Related Tickers: GME
TL;DR
GME 10-Q filed: Q2 2024 financials are in. Check it.
AI Summary
GameStop Corp. filed its 10-Q for the period ending August 3, 2024. The filing details financial performance and operational updates for the second quarter of fiscal year 2024. Specific financial figures and segment information are presented within the report.
Why It Matters
This filing provides investors with the latest financial results and operational details for GameStop, crucial for understanding the company's current performance and future outlook.
Risk Assessment
Risk Level: medium — GameStop operates in a volatile market and has faced significant business challenges, making its financial performance inherently risky.
Key Players & Entities
- GameStop Corp. (company) — Filer of the 10-Q
- 20240803 (date) — End of reporting period
- 20240910 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is August 3, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on September 10, 2024.
What is the company's primary business as indicated in the filing?
The company is in the RETAIL-COMPUTER & COMPUTER SOFTWARE STORES industry.
What was the previous company name?
The former company name was GSC Holdings Corp.
What is the company's state of incorporation?
The company is incorporated in Delaware (DE).
Filing Stats: 4,689 words · 19 min read · ~16 pages · Grade level 8.2 · Accepted 2024-09-10 16:29:22
Filing Documents
- gme-20240803.htm (10-Q) — 861KB
- ex311-fy24q2.htm (EX-31.1) — 18KB
- ex312-fy24q2.htm (EX-31.2) — 17KB
- ex321-fy24q2.htm (EX-32.1) — 7KB
- ex322-fy24q2.htm (EX-32.2) — 7KB
- gme-20240803_g1.jpg (GRAPHIC) — 686KB
- 0001326380-24-000109.txt ( ) — 6072KB
- gme-20240803.xsd (EX-101.SCH) — 28KB
- gme-20240803_cal.xml (EX-101.CAL) — 49KB
- gme-20240803_def.xml (EX-101.DEF) — 108KB
- gme-20240803_lab.xml (EX-101.LAB) — 410KB
- gme-20240803_pre.xml (EX-101.PRE) — 267KB
- gme-20240803_htm.xml (XML) — 584KB
— FINANCIAL INFORMATION
Part I — FINANCIAL INFORMATION Page No.
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets — As of August 3, 2024 , July 29, 2023 and February 3 , 20 24 1 Condensed Consolidated Statements of Operations — For the three and six months ended August 3, 2024 and July 29, 2023 2 Condensed Consolidated Statements of Comprehensive Income (Loss) — For the three and six months ended August 3, 2024 and July 29, 2023 3 Condensed Consolidated Statements of Cash Flows — For the six months ended August 3, 2024 and July 29, 2023 4 Condensed Consolidated Statements of Stockholders' Equity — For the three and six months ended August 3, 2024 and July 29, 2023 5 Notes to Condensed Consolidated Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 14
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 21
Controls and Procedures
Item 4. Controls and Procedures 21
— OTHER INFORMATION
PART II — OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 22
Risk Factors
Item 1A. Risk Factors 22
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 22
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 22
Other Information
Item 5. Other Information 22
Exhibits
Item 6. Exhibits 23
SIGNATURES
SIGNATURES 24 Table of Contents
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS GAMESTOP CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, except par value per share) (unaudited) August 3, 2024 July 29, 2023 February 3, 2024 ASSETS Current assets: Cash and cash equivalents $ 4,193.1 $ 894.7 $ 921.7 Marketable securities 11.1 300.0 277.6 Receivables, net of allowance of $ 4.4 , $ 2.2 and $ 4.4 , respectively 59.7 75.6 91.0 Merchandise inventories, net 560.0 676.9 632.5 Prepaid expenses and other current assets 60.0 58.0 51.4 Total current assets 4,883.9 2,005.2 1,974.2 Property and equipment, net of accumulated depreciation of $ 846.0 , $ 983.0 and $ 851.2 , respectively 78.9 119.3 94.9 Operating lease right-of-use assets 490.9 583.0 555.8 Deferred income taxes 17.5 17.6 17.3 Other noncurrent assets 65.1 78.6 66.8 Total assets $ 5,536.3 $ 2,803.7 $ 2,709.0 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 220.5 $ 378.0 $ 324.0 Accrued liabilities and other current liabilities 377.8 487.5 412.0 Current portion of operating lease liabilities 174.2 194.9 187.7 Current portion of long-term debt 11.0 11.0 10.8 Total current liabilities 783.5 1,071.4 934.5 Long-term debt 12.4 23.6 17.7 Operating lease liabilities 335.9 405.7 386.6 Other long-term liabilities 21.1 35.8 31.6 Total liabilities 1,152.9 1,536.5 1,370.4 Stockholders' equity: Class A common stock — $ .001 par value; 1,000 shares authorized; 426.5 , 305.2 and 305.7 shares issued and outstanding, respectively 0.2 0.1 0.1 Additional paid-in capital 4,696.5 1,621.1 1,634.9 Accumulated other comprehensive loss ( 83.0 ) ( 81.2 ) ( 83.6 ) Retained loss ( 230.3 ) ( 272.8 ) ( 212.8 ) Total stockholders' equity 4,383.4 1,267.2 1,338.6 Total liabilities and stockholders' equity $ 5,536.3 $ 2,803.7 $ 2,709.0 See accompanying notes to condensed consolidated financial statements. 1 Table of Contents GAMESTOP CORP. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share