GameStop (GME) Slides On Soft Holiday Sales, Revisits View
Zacks Investment Research | Jan 13, 2020 09:11PM ET
Holiday season turned out to be a tough one for GameStop Corp. (NYSE:GME) with sales coming in below expectations. The disappointing performance compelled the video game retailer to revisit fiscal 2019 view. Management did expect the sales environment to be challenging as customers are choosing to postpone their purchases on account of expected console launches in late 2020. But a sharper-than-expected fall in new hardware and software sales particularly in the month of December has dealt a heavy blow.
These were enough to hurt investor sentiment. As a result, shares of this Grapevine, TX-based company fell 9.8% during the after-market trading hours on Jan 13. We note that this Zacks Rank #3 (Hold) stock has declined 3.2% in the past three months against the Original post
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