Shares of video game retailer GameStop fell more than 7% in extended trading Wednesday after the company reported its second-quarter loss narrowed on a year-over-year basis.
The retailer did not provide an outlook for the coming quarters or take questions during its earnings conference call. It was the first call since CEO Matthew Furlong and CFO Mike Recupero joined GameStop’s leadership.
For the quarter ended July 31, the company reported a net loss of $61.6 million, or 85 cents per share. In the year-earlier period, GameStop reported a loss of $111.3 million, or $1.71 per share. On an adjusted basis, GameStop lost 76 cents per share.
Sales rose to $1.18 billion from $942 million a year earlier.
According to Refinitiv, analysts were expecting the company to lose 67 cents a share on revenue of $1.12 billion.
GameStop has been trying to shift its business more toward e-commerce. In an effort to improve the delivery of online orders, the company announced it signed a lease for a 530,000-square-foot fulfillment center in Reno, Nevada. The site will help it to expand its fulfillment network across both U.S. coasts.
The retailer is also working to expand its customer care operations in the U.S. by leasing a center in Pembroke Pines, Florida.
