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EX - 99.1 2 a991 - q2fy21earningsrelease.htm EX - 99.1 GameStop GameStop Reports Financial Results for Q2 2021 Grapevine , Texas ( September 8 , 2021 ) - GameStop Corp. ( NYSE : GME ) ( " GameStop " or the " Company " ) today released financial results for the second quarter ended July 31 , 2021. The Company's condensed and consolidated financial statements , including GAAP and non - GAAP results , are below . The Company's Form 10 - Q and supplemental information can be found at http://investor.GameStop.com . SECOND QUARTER OVERVIEW ● ● Exhibit 99.1 Generated net sales of $ 1.183 billion , compared to $ 942 million in the prior year's second quarter . Ended the period with cash and restricted cash of $ 1.78 billion . Ended the period with no long - term debt , other than a $ 47.5 million low - interest loan associated with the French government's pandemic response . Invested in long - term growth initiatives that include expanding the Company's product catalog , enhancing its fulfillment network capabilities and technology , and adding talent across the organization . Entered into a lease of a new 530,000 square foot fulfillment center in Reno , Nevada , positioning the Company's fulfillment network to span both coasts of the continental U.S. Entered into a lease of a new customer care center in Pembroke Pines , Florida and started building out U.S. - based customer care operations . WEBCAST AND CONFERENCE CALL INFORMATION A webcast with management is scheduled for September 8 , 2021 , at 5:00 p.m. ET to discuss the Company's second quarter activities and financial results . This call , call , along with supplemental information , can also be accessed at http://investor.GameStop.com . The phone number for the call is 877-451-6152 and the confirmation code is 13722703. This webcast will be archived for two months on GameStop's investor relations website . NON - GAAP MEASURES AND OTHER METRICS As a supplement to the Company's financial results presented in accordance with U.S. generally accepted accounting principles ( GAAP ) , GameStop may use certain non - GAAP measures , such as adjusted SG & A , adjusted operating income ( loss ) , adjusted net income ( loss ) , adjusted diluted earnings ( loss ) per share , adjusted EBITDA and free cash flow . The Company believes these non - GAAP financial measures provide useful information to investors in evaluating the Company's core operating performance . Adjusted selling , general and administrative expenses ( " Adjusted SG & A " ) , adjusted operating income ( loss ) , adjusted net income ( loss ) and adjusted diluted earnings ( loss ) per share exclude the effect of items such as transformation costs , asset impairments , store closure costs , severance , as well as divestiture costs . Results reported as constant currency exclude the impact of fluctuations in foreign currency exchange rates by converting the Company's local currency financial results using the prior period . exchange rates and comparing these adjusted amounts to the Company's current period reported results . The Company's definition and calculation of non - GAAP financial measures may differ from that of other companies . Non - GAAP financial measures should be viewed as supplementing , and not as an alternative or substitute for , the Company's financial results prepared in accordance with GAAP . Certain of the items that may be excluded or included in non - GAAP financial measures may be significant items that could impact the Company's financial position , results of operations or cash flows and should therefore be considered in assessing the Company's actual and future financial condition and performance .