GameStop expects lower sales on store closures
GameStop projects lower second-quarter sales due to store closures and its France exit. Despite the drop, shares rose as it plans to pay part of a debt exchange with cash to avoid stock dilution.
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GAMESTOP CORP-CLASS A expects second-quarter net sales to fall to a range of $780 million to $800 million on store closures and its France exit. That compares with $972.2 million reported a year ago. The videogame retailer is altering its debt strategy to protect shareholders from dilution.
