Wednesday, June 10, 2020

GameStop's e-commerce sales rose 519% amid closures

Retail Dive
In a first quarter defined by the COVID-19 crisis, GameStop’s e-commerce revenue rose 519% in Q1, with digital sales up a whopping 1000% in the first six weeks after closing its stores in response to the pandemic and closure orders. At the same time, the retailer’s comparable sales fell 30%, with the closures accounting for a little less than half of that decline, according to a company release.

After reporting an initial sales bump in March, GameStop now estimates first-quarter global sales declines of 33% to 35% compared to last year, which brought in $1.5 billion in Q1, according to a press release.. . . more