GameStop Corp
For the period ended Feb 3, 2024. Filed Mar 26, 2024.
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FY2024 · Filed Mar 26, 2024
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Note
- Segment Information
We operate our business infour geographic segments: United States, Canada, Australia and Europe.
We identified segments based on a combination of geographic areas and management responsibility. Segment results for the United States include retail operations in 50 states; our ecommerce website www.gamestop.com; our GameStop Pro® rewards program; and our digital asset wallet and NFT marketplace. The United States segment also includes general and administrative expenses related to our corporate offices in Grapevine, Texas. Segment results for Canada include retail and ecommerce operations in Canada. Segment results for Australia include retail and ecommerce operations in Australia and New Zealand. Segment results for Europe include retail and ecommerce operations insix countries. We measure segment profit using operating earnings, which is defined as income from continuing operations before net interest expense and income taxes. Transactions between reportable segments consist primarily of royalties, management fees, inter-segment loans and related interest. There were no material inter-segment sales during fiscal 2023, 2022 and 2021. Information on total assets by segment is not disclosed as such information is not used by our chief operating decision makers to evaluate segment performance or to allocate resources and capital.
The following table presents segment information:
| UnitedStates | Canada | Australia | Europe | Total | |
|---|---|---|---|---|---|
| Net sales | $3,429.4 | $292.5 | $522.5 | $1,028.4 | $5,272.8 |
| Operating (loss) earnings | (2.4) | (8.4) | (3.5) | (20.2) | (34.5) |
| Depreciation and amortization | 39.7 | 2.2 | 6.6 | 7.7 | 56.2 |
| Asset impairments | 3.0 | — | 0.2 | 1.6 | 4.8 |
| Capital expenditures | 21.5 | 0.2 | 7.8 | 5.4 | 34.9 |
| Property and equipment, net | 56.8 | 1.7 | 19.8 | 16.6 | 94.9 |
| Net sales | $4,093.0 | $344.1 | $588.7 | $901.4 | $5,927.2 |
| Operating (loss) earnings | (286.2) | (8.6) | 13.8 | (30.6) | (311.6) |
| Depreciation and amortization | 40.6 | 4.1 | 6.7 | 10.3 | 61.7 |
| Asset impairments | — | — | — | 2.7 | 2.7 |
| Capital expenditures | 37.6 | — | 12.7 | 5.6 | 55.9 |
| Property and equipment, net | 83.3 | 3.7 | 20.9 | 28.6 | 136.5 |
| Net sales | $4,186.5 | $332.3 | $591.8 | $900.1 | $6,010.7 |
| Operating (loss) earnings | (358.1) | (1.1) | 30.6 | (39.9) | (368.5) |
| Depreciation and amortization | 50.7 | 2.9 | 7.0 | 15.9 | 76.5 |
| Asset impairments | 0.2 | — | — | 6.5 | 6.7 |
| Capital expenditures | 42.3 | 3.1 | 9.4 | 7.2 | 62.0 |
| Property and equipment, net | 100.1 | 8.3 | 15.6 | 39.6 | 163.6 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.