How GameStop’s Management Aims to Win Back Investors’ Trust
Despite their already low expectations, investors in GameStop (NYSE: GME) were surprised to learn about the scale of its struggles when the company posted its second-quarter earnings report on Wednesday. Sales declines accelerated deeper into double-digit territory as demand slumped across the retailer's hardware and software offerings, including its pre-owned games segment.
In a conference call with Wall Street analysts, CEO George Sherman and his team had more bad news to report to shareholders about near-term growth, since industry trends will likely send sales falling for at least another year. Yet executives predicted rising profitability and improving cash flow ahead as key pillars of the company's turnaround plan.
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Source Fool.com
