GameStop Corporation
Other securities:
GME
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ITEM 1. BUSINESS
General
GameStop Corp. (“GameStop,” “we,” “us,” “our,” or the “Company”) offers games, collectibles, and entertainment products through its stores and ecommerce platforms. As we navigate the evolving commercial landscape, our business model is expanding beyond traditional retail to include value creation through disciplined capital allocation. We view our significant cash and other sources of liquidity as a strategic asset to be deployed into acquisitions and control transactions that offer long-term value.
Our fiscal year is composed of the 52 or 53 weeks ending on the Saturday closest to the last day of January. Fiscal year 2025 consisted of the 52 weeks ended on January 31, 2026 ("fiscal 2025"). Fiscal year 2024 consisted of the 52 weeks ended on February 1, 2025 ("fiscal 2024") and fiscal year 2023 consisted of the 53 weeks ended on February 3, 2024 ("fiscal 2023").
Business Priorities
Our strategy has evolved into two distinct but complementary pillars:
•Capital Allocation: Utilizing our significant capital resources to actively evaluate and execute on opportunities to acquire, invest in, or partner with businesses that offer long-term value.
•Operational Excellence: Maximizing the cash flow of our legacy retail business by optimizing our store fleet.
Capital Deployment and Investment Strategy
The Company views its balance sheet as a strategic asset. We continue to review the best use for our cash and other sources of liquidity, including potential control transactions and transformational acquisitions.
While we do not limit our review to specific industries, our Investment Committee is actively evaluating opportunities that offer long-term value.
Investment Policy & Guidelines
Investments are made in accordance with the guidelines of an Investment Policy that is reviewed at least annually by the Board. Permissible investment instruments include cash and cash equivalents (e.g., bank obligations, money market funds, and commercial paper), fixed income securities (e.g., obligations of the U.S. Treasury), equity securities (limited to
1
those listed on major exchanges), derivative instruments and options, and certain crypto-currencies, including Bitcoin.
To ensure the Company can act on these opportunities with speed and efficiency, the Board has delegated authority to an Investment Committee of the Board to manage the Company’s cash and other sources of liquidity and to review potential acquisition and control opportunities.
•Structure: The Committee consists of the Company’s Chairman and Chief Executive Officer, Ryan Cohen, and two independent members of the Board.
•Alignment of Interests: Depending on certain market conditions and various risk factors, Mr. Cohen or other members of the Investment Committee, each in their personal capacity or through affiliated investment vehicles, may at times invest in the same securities in which the Company invests. The Board anticipates that such investments will align the interests of the Company with the interests of related parties because it places the personal resources of such directors at risk in substantially the same manner as resources of the Company.
Retail Business
We are optimizing our retail footprint. We view our extensive domestic network of physical locations not merely as stores, but as fulfillment and service anchors that provide immediate capabilities.
Expand Our Addressable Market
The Company continues to explore ways to increase the size of its addressable market through new product and service offerings.
•Strategic Validation: Our recent initiatives have validated our thesis that consumers value transactional speed and convenience. By utilizing our stores as efficient trade-in destinations, we have demonstrated that our infrastructure can drive transaction volume and customer engagement.
•The Network Effect: We believe our dense store network serves as a competitive advantage.
Maximize Profitability
The Company continues to focus on cost containment to maximize operating income.
•Indirect Spend: We have focused on eliminating non-income generating spend. In 2025, we significantly reduced indirect costs and intend to continue this discipline in 2026.
•International Streamlining: We continue to evaluate our international assets for strategic relevance. In the past three years, the Company has exited operations in Ireland, Switzerland, Austria, Germany, New Zealand, Italy and Canada. In addition, the Company has signed an agreement related to a potential sale of its operations in France to a strategic buyer.
•Store Fleet Optimization: Each year, the Company performs a comprehensive store portfolio optimization review which involves identifying stores for closure based on many factors, including an evaluation of current market conditions and individual store performance. This review resulted in the closure of 727 stores in the United States in fiscal 2025. At this time, we do not anticipate closing a significant number of stores in fiscal 2026, as we view our domestic footprint as a core component of our logistics infrastructure strategy.
Forward-Looking Statement on Acquisitions
While the Company has no binding agreements for a specific transaction at this time, we are actively evaluating opportunities that could require significant capital deployment. Shareholders should understand that our strategy is now explicitly focused on leveraging our cash, flexible capital structure, and stock to acquire assets that we believe will undergo a significant re-rating under our stewardship.
While the Company has no binding agreements for a specific transaction at this time, we are actively evaluating opportunities that could require significant capital deployment. Shareholders should understand that our strategy is now explicitly focused on leveraging our cash, flexible capital structure, and stock to acquire assets that we believe will undergo a significant re-rating under our stewardship.
Reportable Segments
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We operate our business in three geographic segments: United States, Australia and Europe. During the second quarter of fiscal 2025, we divested our operations in Canada, which previously comprised a fourth separate reporting segment.
We identify our segments based on geographic areas, which reflects the way we manage the organization and analyze performance. Our Australia geographic segment includes operations in New Zealand for reporting purposes. During the fourth quarter of fiscal 2025, we closed our store operations in New Zealand.
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, collectibles, 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 January 31, 2026, we had a total of 2,206 stores across all of our segments: 1,598 in the United States, 308 in Europe, and 300 in Australia. Our stores and ecommerce sites operate primarily under the names GameStop®, EB Games® and Micromania®.
Our Australia and Europe segments also include 23 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.
Financial information about our segments is included in Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations, and Part II, Item 8, Notes to the Consolidated Financial Statements, Note 5, "Segment Information," of this Form 10-K.
Merchandise
Merchandise
We categorize our sale of products as follows:
•Hardware and accessories. We offer new and pre-owned gaming platforms from the major console manufacturers. The current generation of consoles include the Nintendo Switch 2, Sony PlayStation 5, and Microsoft Xbox Series X. Accessories consist primarily of controllers, gaming headsets, and other peripheral devices.
•Software. We offer new and pre-owned gaming software for current and certain prior generation consoles. We also sell a wide range of in-game digital currency, digital downloadable content and full-game downloads.
•Collectibles. Collectibles consist of apparel, toys, trading cards, gadgets and other retail products for pop culture and technology enthusiasts . This category also includes collectibles related services, such as submission services for the authentication and grading of trading cards.
Store Locations
Our retail stores are generally located in strip centers, shopping malls and pedestrian areas. These locations provide easy access and high frequency of visits and, in the case of strip centers and high-traffic pedestrian stores, high visibility. We target strip centers that are conveniently located, have a mass merchant or supermarket anchor tenant and have a high volume of customers. As of January 31, 2026, we offered games and entertainment products in 2,206 stores worldwide as more specifically set forth below:
Our retail stores are generally located in strip centers, shopping malls and pedestrian areas. These locations provide easy access and high frequency of visits and, in the case of strip centers and high-traffic pedestrian stores, high visibility. We target strip centers that are conveniently located, have a mass merchant or supermarket anchor tenant and have a high volume of customers. As of January 31, 2026, we offered games and entertainment products in 2,206 stores worldwide as more specifically set forth below:
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Domestic Locations. The table below sets forth the number and locations of our domestic stores included in the United States segment.
| Alabama | 30 | Louisiana | 26 | Ohio | 67 | |||||||||||||
| Alaska | 4 | Maine | 5 | Oklahoma | 20 | |||||||||||||
| Arizona | 41 | Maryland | 31 | Oregon | 27 | |||||||||||||
| Arkansas | 8 | |||||||||||||||||
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Financial statements
data from SEC XBRL filings. Values are as-reported; restatements supersede originals. Values reported in .
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The following discussion should be read in conjunction with the information contained in our condensed consolidated financial statements, including the notes thereto set forth in Part I, Item 1 of this Form 10-Q. Statements regarding future economic performance, management’s plans and objectives, and any statements concerning assumptions related to the foregoing contained in Management’s Discussion and Analysis of Financial Condition and Results of Operations constitute forward-looking statements. 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-Q are based upon information available to us as of the filing date of this Form 10-Q, 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-Q, 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. Certain factors, which may cause actual results to vary materially from these forward-looking statements, accompany such statements and are discussed in our 2025 Annual Report on Form 10-K for the year ended January 31, 2026 (the “2025 Annual Report on Form 10-K”), including the disclosures under Part I, Item 1A "Risk Factors."
OVERVIEW
GameStop Corp. ("GameStop," "we," "us," "our" or the "Company"), a Delaware corporation established in 1996, offers games, collectibles, and entertainment products through its stores and ecommerce platforms. As we navigate the evolving commercial landscape, our business model is expanding beyond traditional retail to include value creation through disciplined capital allocation, and we view our significant cash and other sources of liquidity as a strategic asset to be deployed into investments, acquisitions, and control transactions that we believe offer long-term value.
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BUSINESS PRIORITIES
Our strategy has evolved into two distinct but complementary pillars:
•Capital Allocation: Utilizing our significant capital resources to actively evaluate and execute on opportunities to acquire, invest in, or partner with businesses that offer long-term value.
•Operational Excellence: Maximizing the cash flow of our legacy retail business by optimizing our store fleet.
Capital Deployment and Investment Strategy
The Company views its balance sheet as a strategic asset. We continue to review the best use for our cash and other sources of liquidity, including potential control transactions and transformational acquisitions.
While we do not limit our review to specific industries, our Investment Committee is actively evaluating opportunities that offer long-term value.
Investment Policy & Guidelines
Investments are made in accordance with the guidelines of an Investment Policy that is reviewed at least annually by the Company’s Board of Directors (the “Board”). Permissible investment instruments include cash and cash equivalents (e.g., bank obligations, money market funds, and commercial paper), fixed income securities (e.g., obligations of the U.S. Treasury), equity securities (limited to those listed on major exchanges), derivative instruments and options, and certain crypto-currencies, including Bitcoin.
To ensure the Company can act on these opportunities with speed and efficiency, the Board has delegated authority to an Investment Committee of the Board to manage the Company’s cash and other sources of liquidity and to review potential acquisition and control opportunities.
•Structure: The Committee consists of the Company’s Chairman and Chief Executive Officer, Ryan Cohen, and two independent members of the Board.
•Alignment of Interests: Depending on certain market conditions and various risk factors, Mr. Cohen or other members of the Investment Committee, each in their personal capacity or through affiliated investment vehicles, may at times invest in the same securities in which the Company invests. The Board anticipates that such investments will align the interests of the Company with the interests of related parties because they place the personal resources of such directors at risk in substantially the same manner as resources of the Company.
Retail Business
We are optimizing our retail footprint. We view our extensive domestic network of physical locations not merely as stores, but as fulfillment and service anchors that provide immediate capabilities.
Expand Our Addressable Market
The Company continues to explore ways to increase the size of its addressable market through new product and service offerings.
•Strategic Validation: Our recent initiatives support our view that consumers value transactional speed and convenience. By utilizing our stores as efficient trade-in destinations, we have demonstrated that our infrastructure can drive transaction volume and customer engagement.
•The Network Effect: We believe our dense store network serves as a competitive advantage.
Maximize Profitability
The Company continues to focus on cost containment to maximize operating income.
•Indirect Spend: We have focused on eliminating non-income generating spend. In fiscal 2025, we significantly reduced indirect costs and intend to continue this discipline in 2026.
•International Streamlining: We continue to evaluate our international assets for strategic relevance. In the past three years, the Company has exited operations in Ireland, Switzerland, Austria, Germany, New Zealand, Italy, Canada and France.
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•Store Fleet Optimization: Each year, the Company performs a comprehensive store portfolio optimization review which involves identifying stores for closure based on many factors, including an evaluation of current market conditions and individual store performance. This review resulted in the closure of 727 stores in the United States in fiscal 2025. At this time, we do not anticipate closing a significant number of stores in fiscal 2026, as we view our domestic footprint as a core component of our logistics infrastructure strategy.
Forward-Looking Statement on Acquisitions
While the Company has no binding agreements for a specific transaction at this time, we are actively evaluating opportunities that could require significant capital deployment. Shareholders should understand that our strategy is now explicitly focused on leveraging our cash, flexible capital structure, and stock to acquire assets that we believe will undergo a significant re-rating under our stewardship.
While the Company has no binding agreements for a specific transaction at this time, we are actively evaluating opportunities that could require significant capital deployment. Shareholders should understand that our strategy is now explicitly focused on leveraging our cash, flexible capital structure, and stock to acquire assets that we believe will undergo a significant re-rating under our stewardship.
Second Quarter Developments
During the second quarter of fiscal 2026, we continued to advance the strategic priorities we pursued throughout fiscal 2025 and the first quarter of fiscal 2026.
Consistent with our focus on the growth of collectibles, we continued to expand store space and roll out new fixtures dedicated to the category to support in-store collectibles sales. As a result of our efforts in this area, our Collectibles product category increased to 45.1% of our Net Sales in the second quarter of fiscal 2026 compared to 23.4% in the second quarter of fiscal 2025.
We also continued our profit optimization efforts during the quarter, including further reductions in selling, general and administrative expenses through ongoing cost discipline and indirect-spend initiatives.
Our balance sheet continued to reflect the proceeds of our 0.00% Convertible Senior Notes due 2030 (the “2030 Notes”) and 0.00% Convertible Senior Notes due 2032 (the “2032 Notes”, and together with the 2030 Notes, the “Convertible Notes”), and our Bitcoin treasury reserve holdings and related receivables. Total Cash, cash equivalents, Marketable securities, Digital assets and related receivables were $5,354.4 million as of August 1, 2026. This total included $4,854.3 million of Cash and cash equivalents, $206.0 million of Marketable securities, and approximately $294.1 million in Digital assets and related receivables.
During the quarter, our Board of Directors approved a new discretionary $2.0 billion share repurchase authorization, replacing the previous authorization then in effect. As of August 1, 2026, we had not repurchased any shares of our Class A common stock under the new authorization.
We converted our previously disclosed derivative position related to eBay Inc. ("eBay") into a direct equity investment, resulting in a decrease in cash, cash equivalents, and marketable securities. As of August 1, 2026, we held approximately 43.4 million shares of eBay common stock, par value $0.001 per share ("eBay Common Stock") with a fair value of approximately $4.9 billion. We also recorded a $75.0 million loss on Digital assets and related receivables during this quarter, reflecting a decline in the market price of Bitcoin.
Consistent with our international streamlining efforts, we completed the divestiture of our operations in France.
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CONSOLIDATED RESULTS OF OPERATIONS
The following table presents certain statement of operations items and as a percentage of Net sales:
| Three Months Ended | ||||||||||||||||||||||||||||||||||||
| August 1, 2026 | August 2, 2025 | Change | ||||||||||||||||||||||||||||||||||
| Amount | Percent of Net Sales | Amount | Percent of Net Sales | $ | % | |||||||||||||||||||||||||||||||
| Net sales | $ | 790.2 | 100.0 | % | $ | 972.2 | 100.0 | % | $ | (182.0) | (18.7) | % | ||||||||||||||||||||||||
| Cost of sales | 445.2 | 56.3 | 689.1 | 70.9 | (243.9) | (35.4) | ||||||||||||||||||||||||||||||
| Gross profit | 345.0 | 43.7 | 283.1 | 29.1 | 61.9 | 21.9 | ||||||||||||||||||||||||||||||
| Selling, general and administrative expenses | 187.1 | 23.7 | 218.8 | 22.5 | (31.7) | (14.5) | ||||||||||||||||||||||||||||||
Asset impairments | (2.3) | (0.3) | (2.1) | (0.2) | (0.2) | 9.5 | ||||||||||||||||||||||||||||||
| Operating income | 160.2 | 20.3 | 66.4 | 6.8 | 93.8 | 141.3 | ||||||||||||||||||||||||||||||
| Interest income, net | (77.1) | (9.8) | (79.6) | (8.2) | 2.5 | (3.1) | ||||||||||||||||||||||||||||||
| Gain on derivative asset, net | (166.3) | (21.0) | — | — | (166.3) | 100.0 | ||||||||||||||||||||||||||||||
| Loss (gain) on digital assets and related receivables | 75.0 | 9.5 | (28.6) | (2.9) | 103.6 | NM(1) | ||||||||||||||||||||||||||||||
| Unrealized gain on equity investment | (72.1) | (9.1) | — | — | (72.1) | 100.0 | ||||||||||||||||||||||||||||||
| Other income, net | (19.5) | (2.5) | — | — | (19.5) | 100.0 | ||||||||||||||||||||||||||||||
Income before income taxes | 420.2 | 53.2 | 174.6 | 18.0 | 245.6 | 140.7 | ||||||||||||||||||||||||||||||
| Income tax expense | 121.5 | 15.4 | 6.0 | 0.6 | 115.5 | NM (1) | ||||||||||||||||||||||||||||||
Net income | $ | 298.7 | 37.8 | % | $ | 168.6 | 17.3 | % | $ | 130.1 | 77.2 | |||||||||||||||||||||||||
(1) "NM" identifies data that is not meaningful.
| Six Months Ended | ||||||||||||||||||||||||||||||||||||
| August 1, 2026 | August 2, 2025 | Change | ||||||||||||||||||||||||||||||||||
| Amount | Percent of Net Sales | Amount | Percent of Net Sales | $ | % | |||||||||||||||||||||||||||||||
| Net sales | $ | 1,625.5 | 100.0 | % | $ | 1,704.6 | 100.0 | % | $ | (79.1) | (4.6) | % | ||||||||||||||||||||||||
| Cost of sales | 940.2 | 57.8 | 1,168.7 | 68.6 | (228.5) | (19.6) | ||||||||||||||||||||||||||||||
| Gross profit | 685.3 | 42.2 | 535.9 | 31.4 | 149.4 | 27.9 | ||||||||||||||||||||||||||||||
| Selling, general and administrative expenses | 388.7 | 23.9 | 446.9 | 26.2 | (58.2) | (13.0) | ||||||||||||||||||||||||||||||
Asset impairments | (6.9) | (0.4) | 33.4 | 2.0 | (40.3) | NM(1) | ||||||||||||||||||||||||||||||
| Operating income | 303.5 | 18.7 | 55.6 | 3.3 | 247.9 | 445.9 | ||||||||||||||||||||||||||||||
| Interest income, net | (160.8) | (9.9) | (136.5) | (8.0) | (24.3) | 17.8 | ||||||||||||||||||||||||||||||
| Gain on derivative asset, net | (434.7) | (26.7) | — | — | (434.7) | 100.0 | ||||||||||||||||||||||||||||||
| Loss (gain) on digital assets and related receivables | 73.9 | 4.5 | (28.6) | (1.7) | 102.5 | NM(1) | ||||||||||||||||||||||||||||||
| Unrealized gain on equity investment | (72.1) | (4.4) | — | — | (72.1) | 100.0 | ||||||||||||||||||||||||||||||
| Other income, net | (29.4) | (1.8) | (2.2) | (0.1) | (27.2) | NM (1) | ||||||||||||||||||||||||||||||
Income before income taxes | 926.6 | 57.0 | 222.9 | 13.1 | 703.7 | 315.7 | ||||||||||||||||||||||||||||||
Income tax expense | 238.3 | 14.7 | 9.5 | 0.6 | 228.8 | NM (1) | ||||||||||||||||||||||||||||||
Net income | $ | 688.3 | 42.3 | % | $ | 213.4 | 12.5 | % | $ | 474.9 | 222.5 | |||||||||||||||||||||||||
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The Three and Six Months Ended August 1, 2026 Compared to the Three and Six Months Ended August 2, 2025
Net Sales
Beginning in the second quarter of fiscal 2026, we present Net sales in three revised product categories — Collectibles, Pre-Owned and Refurbished, and Video Games — to align with how management evaluates the business. Prior period amounts have been recast to conform to the current presentation. See Note 3, "Revenue."
The following table presents Net sales by significant product category:
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||
| August 1, 2026 | August 2, 2025 | August 1, 2026 | August 2, 2025 | |||||||||||||||||||||||||||||||||||||||||||||
| Net Sales | Percent of Net Sales | Net Sales | Percent of Net Sales | Net Sales | Percent of Net Sales | Net Sales | Percent of Net Sales | |||||||||||||||||||||||||||||||||||||||||
| Collectibles | $ | 356.3 | 45.1 | % | $ | 227.6 | 23.4 | % | $ | 705.2 | 43.4 | % | $ | 439.1 | 25.7 | % | ||||||||||||||||||||||||||||||||
| Video Games | 263.2 | 33.3 | 494.6 | 50.9 | 549.8 | 33.8 | 844.8 | 49.6 | ||||||||||||||||||||||||||||||||||||||||
| Pre-Owned and Refurbished | 170.7 | 21.6 | 250.0 | 25.7 | 370.5 | 22.8 | 420.7 | 24.7 | ||||||||||||||||||||||||||||||||||||||||
| Total net sales | $ | 790.2 | 100.0 | % | $ | 972.2 | 100.0 | % | $ | 1,625.5 | 100.0 | % | $ | 1,704.6 | 100.0 | % | ||||||||||||||||||||||||||||||||
The following table presents Net sales by reportable segment:
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||
| August 1, 2026 | August 2, 2025 | August 1, 2026 | August 2, 2025 | |||||||||||||||||||||||||||||||||||||||||||||
| Net Sales | Percent of Net Sales | Net Sales | Percent of Net Sales | Net Sales | Percent of Net Sales | Net Sales | Percent of Net Sales | |||||||||||||||||||||||||||||||||||||||||
| United States | $ | 608.2 | 77.0 | % | $ | 724.6 | 74.5 | % | $ | 1,259.3 | 77.4 | % | $ | 1,262.1 | 74.1 | % | ||||||||||||||||||||||||||||||||
| Canada | — | — | — | — | — | — | 38.2 | 2.2 | ||||||||||||||||||||||||||||||||||||||||
| Australia | 120.9 | 15.3 | 140.9 | 14.5 | 220.5 | 13.6 | 222.8 | 13.1 | ||||||||||||||||||||||||||||||||||||||||
| Europe | 61.1 | 7.7 | 106.7 | 11.0 | 145.7 | 9.0 | 181.5 | 10.6 | ||||||||||||||||||||||||||||||||||||||||
| Total net sales | $ | 790.2 | 100.0 | % | $ | 972.2 | 100.0 | % | $ | 1,625.5 | 100.0 | % | $ | 1,704.6 | 100.0 | % | ||||||||||||||||||||||||||||||||
Net sales decreased $182.0 million, or 18.7% for the three months ended August 1, 2026, compared to the prior year period.
During the three months ended August 1, 2026, Net sales decreased 14.2% in Australia, 16.1% in the United States, and 42.7% in Europe. The overall decrease in consolidated Net sales for the three months ended August 1, 2026 compared to the prior year period was primarily driven by a decline in Video Games sales of $231.4 million, or 46.8%, and a decline in Pre-Owned and Refurbished sales of $79.3 million or 31.7%. This was partially offset by an increase in Collectibles sales of $128.7 million or 56.5%. The declines in Video Games and in Pre-Owned and Refurbished sales were primarily due to the prior-year launch of the Nintendo Switch 2, with no such launch in the current year period; the prior year period included launch-driven hardware sales and elevated trade-in activity and pre-owned sales associated with the launch. The increase in Collectibles sales was primarily driven by continued growth in trading cards.
Net sales decreased $79.1 million, or 4.6% for the six months ended August 1, 2026, compared to the prior year period.
During the six months ended August 1, 2026, Net sales decreased 19.7% in Europe, 1.0% in Australia, 0.2% in the United States and 100.0% in Canada. The decline in the Canada segment reflects the divestiture of that business in the second quarter of fiscal 2025. The overall decrease in consolidated Net sales for the six months ended August 1, 2026 compared to the prior year period was primarily driven by a decrease in Video Games sales of $295.0 million or 34.9%, and a decrease in Pre-Owned and Refurbished sales of $50.2 million or 11.9%. This was partially offset by an increase in collectible sales of $266.1 million or 60.6%. The decline in Video Game sales was primarily due to the prior-year launch of the Nintendo Switch 2, with no such launch in the current year period.
Gross Profit
Recent insider activity
| Date | Insider | Role | Action | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 2026-09-21 | Attal Alain | Director | Buy | +17,500 | $22.97 | $401,958 |
| 2026-09-21 | Cohen Ryan | President, CEO and Chairman | Buy | +1,150,680 | $22.94 | $26,393,722 |
| 2026-09-10 | Attal Alain | Director | Buy | +5,000 | $20.00 | $100,000 |
| 2026-09-10 | Cohen Ryan | President, CEO and Chairman | Buy | +1,000,000 | $20.38 | $20,375,900 |
| 2026-09-09 | Grube James | Director | Buy | +10,255 | $19.12 | $196,076 |
| 2026-09-08 | Cheng Lawrence indirect | Director | Buy | +55,000 | $18.80 | $1,033,956 |
| 2026-07-06 | Robinson Mark Haymond | General Counsel and Secretary | Sell | -3,957 | $22.62 | -$89,511 |
| 2026-07-01 | Robinson Mark Haymond | General Counsel and Secretary | Sell | -7,083 | $22.38 | -$158,518 |
| 2026-07-01 | Moore Daniel William | PFO and PAO | Sell | -7,085 | $22.38 | -$158,562 |
Source: SEC Form 4 filings.
Next expected filings
- ~2026-12-09 10-Q expected by 2026-12-11 (in 77 days)
- ~2027-03-23 10-K expected by 2027-03-27 (in 181 days)
- ~2027-06-11 10-Q expected by 2027-06-13 (in 261 days)
- ~2027-09-09 10-Q expected by 2027-09-11 (in 351 days)
Predicted from historical filing cadence; not an SEC commitment.
Recent SEC filings
- 2026-09-09 10-Q Quarterly Report
- 2026-09-08 8-K Earnings Release; Regulation FD Disclosure; Financial Statements and Exhibits
- 2026-08-31 8-K Material Agreement Entered; Earnings Release; Unregistered Equity Sale; Regulation FD Disclosure; Financial Statements and Exhibits
- 2026-08-03 8-K Material Agreement Entered; Unregistered Equity Sale; Other Events; Financial Statements and Exhibits
- 2026-06-23 8-K Other Events
- 2026-06-11 10-Q Quarterly Report
- 2026-06-02 8-K Earnings Release; Regulation FD Disclosure; Financial Statements and Exhibits
- 2026-05-22 DEF 14A Proxy Statement
- 2026-05-11 PRE 14A Preliminary Proxy Statement
- 2026-05-04 8-K Regulation FD Disclosure; Other Events; Financial Statements and Exhibits
- 2026-03-24 10-K Annual Report
- 2026-03-24 8-K Earnings Release; Regulation FD Disclosure; Financial Statements and Exhibits
- 2026-01-08 8-K Other Events; Financial Statements and Exhibits
- 2026-01-07 8-K Other Events; Financial Statements and Exhibits
- 2025-12-09 10-Q Quarterly Report