GameStop Sales rose as more people returned to its stores in the last quarter, but its losses widened, lowering investor hopes for a turnaround signal for the videogame retailer.
Texas-based company Grapevine on Wednesday posted $1.38 billion in net sales for the April 30 quarter, up from $1.28 billion a year ago. On an adjusted basis, the retailer reported a loss of $2.08 per share, compared to a loss of 45 cents per share in the same period a year ago. The three analysts surveyed by FactSet expected net sales of $1.32 billion and an adjusted loss of $1.45 per share.