GameStop Corp.
For the period ended Feb 1, 2025. Filed Mar 25, 2025.
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FY2025 · Filed Mar 25, 2025
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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; and our GameStop Pro® loyalty program. 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 in France, Italy, and Germany. During fiscal 2024, we divested our operations in Italy and ended store operations in Germany. Our segment results for Europe previously also included retail operations in Austria, Switzerland and Ireland.
Our chief operating decision makers (“CODM”) are the Chief Executive Officer and the Principal Financial and Accounting Officer, who have responsibility for allocating resources and assessing performance for the operating segments. Our CODM measures segment profit using operating income (loss), which is defined as net income (loss) from operations before net interest (income) expense and income taxes.
Transactions between our reportable segments consist primarily of royalties, management fees, intersegment loans and related interest. There were no material intersegment sales during fiscal 2024, 2023, and 2022. Information on total assets by segment is not disclosed as such information is not used by our CODM to evaluate segment performance or to allocate resources and capital.
The following tables present segment information:
| UnitedStates · Canada · Australia · Europe · Total | ||||||
|---|---|---|---|---|---|---|
| Net sales | $2,575.7 | $204.3 | $404.9 | $638.1 | $3,823.0 | |
| Cost of sales | 1,803.2 | 152.6 | 277.6 | 475.7 | 2,709.1 | |
| Gross Profit | 772.5 | 51.7 | 127.3 | 162.4 | 1,113.9 | |
| Selling, general and administrative expenses: | 737.2 | 61.7 | 139.2 | 192.3 | 1,130.4 | |
| Store related | 631.5 | 51.5 | 122.4 | 162.8 | 968.2 | |
| Other | 105.7 | 10.2 | 16.8 | 29.5 | 162.2 | |
| Asset impairments | 1.4 | — | — | 8.3 | 9.7 | |
| Operating income (loss) | 33.9 | (10.0) | (11.9) | (38.2) | (26.2) | |
| Interest income | (163.4) | |||||
| Income before income taxes | 137.2 | |||||
| Income tax expense | 5.9 | |||||
| Net income | 131.3 | |||||
| Property and equipment, net | 39.4 | 1.3 | 16.3 | 11.2 | 68.2 | |
| Capital expenditures | 10.1 | 1.0 | 3.2 | 1.8 | 16.1 | |
| UnitedStates · Canada · Australia · Europe · Total | ||||||
|---|---|---|---|---|---|---|
| Net sales | $3,429.4 | $292.5 | $522.5 | $1,028.4 | $5,272.8 | |
| Cost of sales | 2,590.5 | 226.6 | 372.9 | 788.6 | 3,978.6 | |
| Gross Profit | 838.9 | 65.9 | 149.6 | 239.8 | 1,294.2 | |
| Selling, general and administrative expenses: | 838.2 | 74.3 | 152.9 | 258.5 | 1,323.9 | |
| Store related | 708.4 | 61.8 | 135.2 | 222.0 | 1,127.4 | |
| Other | 129.8 | 12.5 | 17.7 | 36.5 | 196.5 | |
| Asset impairments | 3.0 | — | 0.2 | 1.6 | 4.8 | |
| Operating loss | (2.3) | (8.4) | (3.5) | (20.3) | (34.5) | |
| Interest income | (49.5) | |||||
| Other expense, net | 1.9 | |||||
| Income before income taxes | 13.1 | |||||
| Income tax expense | 6.4 | |||||
| Net income | 6.7 | |||||
| Property and equipment, net | 56.8 | 1.7 | 19.8 | 16.6 | 94.9 | |
| Capital expenditures | 21.5 | 0.2 | 7.8 | 5.4 | 34.9 | |
| UnitedStates · Canada · Australia · Europe · Total | ||||||
|---|---|---|---|---|---|---|
| Net sales | 4,093.0 | 344.1 | 588.7 | 901.4 | $5,927.2 | |
| Cost of sales | 3,228.5 | 268.9 | 402.9 | 654.8 | 4,555.1 | |
| Gross Profit | 864.5 | 75.2 | 185.8 | 246.6 | 1,372.1 | |
| Selling, general and administrative expenses: | 1,150.8 | 83.8 | 172.0 | 274.4 | 1,681.0 | |
| Store related | 845.3 | 68.0 | 148.9 | 210.6 | 1,272.8 | |
| Other | 305.5 | 15.8 | 23.1 | 63.9 | 408.3 | |
| Asset impairments | — | — | — | 2.7 | 2.7 | |
| Operating (loss) income | (286.3) | (8.6) | 13.8 | (30.5) | $(311.6) | |
| Interest income | (9.5) | |||||
| Loss before income taxes | (302.1) | |||||
| Income tax expense | 11.0 | |||||
| Net loss | (313.1) | |||||
| Property and equipment, net | 83.3 | 3.7 | 20.9 | 28.6 | $136.5 | |
| Capital expenditures | 37.6 | — | 12.7 | 5.6 | $55.9 | |
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