GameStop Corp. (NYSE: GME) reported its fourth quarter 2020 earnings results today.
Net sales totaled $2.12 billion compared to $2.19 billion in the year-ago period owing to a decrease in the store base due to strategic de-densification efforts and a reduction in European store operating days due to temporary store closures caused by the COVID-19 pandemic.
Comparable store sales increased 6.5%.
GAAP net income was $80.5 million, or $1.19 per share, compared to $21 million, or $0.32 per share, last year. Adjusted net income was $90.7 million, or $1.34 per share.
Both the top and bottom line numbers missed expectations.
The company is not providing guidance for fiscal year 2021 at present.
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