GameStop sales rose as more people returned to its stores last quarter, but its loss widened, damping investors’ hopes for signs of a turnaround for the videogame retailer.
The Grapevine, Texas-based company posted on Wednesday $1.38 billion in net sales for the quarter through April 30, up from $1.28 billion a year earlier. On an adjusted basis, the retailer reported a loss of $2.08 a share, compared with a loss of 45 cents a share over the same period a year ago. Three analysts polled by FactSet expected net sales of $1.32 billion and an adjusted loss of $1.45 a share.
