GameStop’s sales in the third quarter rose more than 29% year over year to $1.3 billion, according to a release. The retailer attributed some of that growth to new and expanded relationships with brands, including with Samsung, LG, Razer and Vizio.
Inventory levels were up by nearly a third, to $1.1 billion, to “focus on front-loading investments in inventory to meet increased customer demand and mitigate supply chain issues,” the company said. Operating loss also grew by more than 60%.
As it aims for a technology-focused transformation, GameStop added offices in two major tech hubs, Seattle and Boston, during the quarter.Retail Dive