GameStop on Thursday tell of first-quarter same-store sales that missed analysts’ estimates due to a globule in sales of video game hardware and software at its outlets.
Shares of the elated’s largest video game retailer fell 4 percent to $12.65 in elongate trading.
GameStop said its comparable store sales fell 5.3 percent in the new quarter ended May 5. Analysts on average had expected a 4.2 percent doff in same-store sales, according to Thomson Reuters I/B/E/S.
The company on Thursday also rated board member Shane Kim interim chief executive officer.
GameStop has been cladding a slew of management changes after Chief Executive J. Paul Raines passed away in Stride. Mike Mauler, who was named Raines’ successor, resigned citing disparaging reasons earlier in May.
The company’s net income fell to $28.2 million, or 28 cents per interest, from $59 million, or 58 cents per share, a year earlier.
Net sales flatten 5.5 percent to $1.93 billion.