GameStop Reports $673 Million Loss for 2018 Fiscal Year

GameStop has released its financial report for 2018 and things are not looking great. The report features a loss of $673 million for the fiscal year with a decent decrease of 21.3% in pre-owned hardware and software sales. Accessory sales did increase though by 18.8%. The company was quick to point out that while it did have a loss, the previous fiscal year 2017 had an extra week. If you were to exclude that week, GameStop says 2018 sales would be “in line” with 2017.

Things are only going to get harder for the company though as more people purchase digital copies of games instead of physical ones. GameStop does sell digital games and even reported an increase of 16.5% in that sector. However, Sony also recently announced that it would stop selling digital games through retailers.

GameStop needs to think fast if they want to stay afloat in this everchanging world. Do you think there’s still room for a brick-and-mortar gaming store that isn’t for retro gaming?

You can read the full report here.

Via: CB