FinancialGameStop
Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934: GameStop Corp.
23 Mar 20211 pages~258 min full read
Key insights
7 takeaways · ~3 min read- 01GameStop's net sales decreased by $1,376.2 million, or 21.3%, in fiscal 2020 compared to fiscal 2019, primarily due to COVID-19 related store closures, 693 net permanent global store closures, and a 9.5% decrease in comparable store sales.
- 02The company reported a net loss of $215.3 million in fiscal 2020, an improvement from a net loss of $470.9 million in fiscal 2019 and $673.0 million in fiscal 2018.
- 03GameStop eliminated its quarterly dividend on June 3, 2019, to strengthen its balance sheet and increase financial flexibility, with dividends paid in fiscal 2020 ($0.3 million) representing previously declared dividends on unvested restricted stock awards.
- 04As of March 17, 2021, GameStop had 69,935,828 shares of Class A Common Stock outstanding, with an aggregate market value of approximately $244.4 million for non-affiliate held stock as of July 31, 2020.
- 05GameStop incurred approximately $25 million in costs during fiscal year 2020 to mitigate the impact of the COVID-19 pandemic, including incremental wage payments, enhanced cleaning, and expanded PPE, anticipating these costs will continue into fiscal year 2021.
- 06Jenna Owens was appointed as the Executive Vice President and Chief Operating Officer, effective March 29, 2021, bringing senior leadership experience from Amazon.com, Inc., Google, and McKinsey & Co.
- 07Eight incumbent directors are expected to retire from the Board at the 2021 Annual Meeting: Lizabeth Dunn, Paul Evans, Raul J. Fernandez, Reginald Fils-Aimé, William Simon, James K. Symancyk, Carrie W. Teffner, and Kathy P. Vrabeck.
Summary
SEC 10-K filing for GameStop, filed 2021-03-23.
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