Reported 1 day ago
GameStop has reported a third-quarter profit of $17.4 million, contrasting a net loss from the previous year, driven by aggressive cost-cutting strategies, including closing stores and focusing on higher-margin products. Despite this positive news, the company's revenue fell by 20% to $860 million, amid challenges from online competitors and a difficult market environment. CEO Ryan Cohen's strategy aims to enhance sales and profitability, though analysts express concern over the viability of its core business.
Source: YAHOO