{"id":42126,"date":"2024-06-08T08:33:14","date_gmt":"2024-06-08T08:33:14","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/video-game-retailer-gamestop-posts-28-fall-in-q1-net-sales"},"modified":"2024-06-08T10:23:39","modified_gmt":"2024-06-08T10:23:39","slug":"video-game-retailer-gamestop-posts-28-fall-in-q1-net-sales","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/video-game-retailer-gamestop-posts-28-fall-in-q1-net-sales","title":{"rendered":"Video game retailer GameStop posts 28% fall in Q1 net sales"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>American video game, consumer electronics retailer GameStop saw around 28% decline in net sales during the first quarter of this year, according to its financial results statement released Friday.<\/p>\n

The company reported net sales of nearly $882 million for the 13 weeks ended May 4, a decrease of 28.7% from approximately $1.24 billion recorded in the 13 weeks ended April 29, 2023.<\/p>\n

The retailer, in addition posted $32.3 million net loss in the first quarter, after a net loss of $50.5 million in the same period of last year.<\/p>\n

Due to weak financial results, the company’s stock price was down 32% to $31.63 per share at 12.27 a.m. EDT (1627GMT) on the New York Stock Exchange.<\/p>\n

GameStop shares have been fluctuating massively in recent days, with 21% and 19% gains on Monday and Wednesday, respectively, and a whopping 47% on Thursday, but saw 5% decline on Tuesday, 10% fall on May 29, and 13% decrease on May 23.<\/p>\n

The fluctuation came as the meme stock trader Keith Gill, better known as “Roaring Kitty” on YouTube and X, has been making posts about GameStop shares and driving prices higher.<\/p>\n

Gill had driven GameStop shares up during the coronavirus pandemic, and has gone live on YouTube at 12.30 a.m. EDT (1630GMT) for the first time in almost four years.<\/p>\n

More than 640,000 people have joined his live stream on YouTube at 12.42 a.m. EDT (1642GMT) when GameStop stock price was down 33% to $31 per share at that time.<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. American video game, consumer electronics retailer GameStop saw around 28% decline in net sales during the first quarter of this year, according to its financial results statement released Friday. The company reported net sales of nearly $882 million for the 13 weeks ended May 4, a decrease of 28.7% from approximately $1.24 […]<\/p>\n","protected":false},"author":84,"featured_media":42125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,245,3343,241,3350,3349],"class_list":["post-42126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-mauritius","tag-gamestop","tag-mauritius","tag-net-sales","tag-roaring-kitty"],"yoast_head":"\nVideo game retailer GameStop posts 28% fall in Q1 net sales - Mauritius<\/title>\n<meta name=\"description\" content=\"American video game, consumer electronics retailer GameStop saw around 28% decline in net sales during the first quarter ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/video-game-retailer-gamestop-posts-28-fall-in-q1-net-sales\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Video game retailer GameStop posts 28% fall in Q1 net sales\" \/>\n<meta property=\"og:description\" content=\"American video game, consumer electronics retailer GameStop saw around 28% decline in net sales during the first quarter ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/video-game-retailer-gamestop-posts-28-fall-in-q1-net-sales\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-08T08:33:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-08T10:23:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/06\/sm_1717825916.061881.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/video-game-retailer-gamestop-posts-28-fall-in-q1-net-sales#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/video-game-retailer-gamestop-posts-28-fall-in-q1-net-sales\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Video game retailer GameStop posts 28% fall in Q1 net sales\",\"datePublished\":\"2024-06-08T08:33:14+00:00\",\"dateModified\":\"2024-06-08T10:23:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/video-game-retailer-gamestop-posts-28-fall-in-q1-net-sales\"},\"wordCount\":246,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/video-game-retailer-gamestop-posts-28-fall-in-q1-net-sales#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/06\/sm_1717825916.061881.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"GameStop\",\"Mauritius\",\"net sales\",\"Roaring Kitty\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/video-game-retailer-gamestop-posts-28-fall-in-q1-net-sales#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/video-game-retailer-gamestop-posts-28-fall-in-q1-net-sales\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/video-game-retailer-gamestop-posts-28-fall-in-q1-net-sales\",\"name\":\"Video game retailer GameStop posts 28% fall in Q1 net sales - 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