GameStop's Q4 sales fell 19.41% to $1.79bn due to lower store visits and online competition, leading to job cuts.
GameStop's sales have fallen 19.41% in the year, with revenue dropping to $1.79bn in the fourth quarter, compared to $2.23bn the previous year, due to lower store visits and stiff competition from online retailers like Amazon. As a result, the video game retailer is cutting jobs across all levels to reduce costs. The decline in revenue is attributed to the shift towards digital downloads, which are hurting physical retail, and the uncertain economic environment.
March 27, 2024
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