0001326380-24-000109 | 10-Q | XBRL Viewer

Segment Information (Tables)

6 Months Ended

Aug. 03, 2024

Schedule of Information on Segments and Reconciliation to Earnings Before Income Taxes

Transactions between reportable segments consist primarily of royalties, management fees, intersegment loans and related interest. There were no material intersegment sales during the three and six months ended August 3, 2024 and July 29, 2023.


	United States		Canada		Australia		Europe		Consolidated
Three Months Ended August 3, 2024
Net sales	$	545.6	$	37.7	$	87.8	$	127.2	$	798.3
Operating loss	(1.5)		(4.2)		(5.9)		(10.4)		(22.0)
Three Months Ended July 29, 2023
Net sales	$	760.2	$	66.0	$	124.1	$	213.5	$	1,163.8
Operating earnings (loss)	4.7		(3.1)		(3.8)		(14.4)		(16.6)


	United States		Canada		Australia		Europe		Consolidated
Six Months Ended August 3, 2024
Net sales	$	1,162.9	$	80.3	$	167.4	$	269.5	$	1,680.1
Operating loss	(26.9)		(8.6)		(14.0)		(23.1)		(72.6)
Six Months Ended July 29, 2023
Net sales	$	1,592.6	$	128.8	$	239.4	$	440.1	$	2,400.9
Operating loss	(21.5)		(6.8)		(9.8)		(36.9)		(75.0)

Segment Information

6 Months Ended

Aug. 03, 2024

Segment Reporting [Abstract]

Segment Information

We operate our business in four geographic segments: United States, Canada, Australia and Europe. We identified segments based on a combination of geographic areas and management responsibility. Segment results for the United States include retail operations in 50 states; our ecommerce website www.gamestop.com; and our GameStop Pro® loyalty program. The United States segment also includes general and administrative expenses related to our corporate offices in Grapevine, Texas. Segment results for Canada include retail and ecommerce operations in Canada and segment results for Australia include retail and ecommerce operations in Australia and New Zealand. Segment results for Europe currently include retail and ecommerce operations in France, Italy and Germany. Our segment results for Europe previously also included retail operations in Austria, Switzerland and Ireland. We measure segment profit using operating earnings, which is defined as income (loss) from operations before net interest (income) expense and income taxes. Transactions between reportable segments consist primarily of royalties, management fees, intersegment loans and related interest. There were no material intersegment sales during the three and six months ended August 3, 2024 and July 29, 2023.


	United States		Canada		Australia		Europe		Consolidated
Three Months Ended August 3, 2024
Net sales	$	545.6	$	37.7	$	87.8	$	127.2	$	798.3
Operating loss	(1.5)		(4.2)		(5.9)		(10.4)		(22.0)
Three Months Ended July 29, 2023
Net sales	$	760.2	$	66.0	$	124.1	$	213.5	$	1,163.8
Operating earnings (loss)	4.7		(3.1)		(3.8)		(14.4)		(16.6)


	United States		Canada		Australia		Europe		Consolidated
Six Months Ended August 3, 2024
Net sales	$	1,162.9	$	80.3	$	167.4	$	269.5	$	1,680.1
Operating loss	(26.9)		(8.6)		(14.0)		(23.1)		(72.6)
Six Months Ended July 29, 2023
Net sales	$	1,592.6	$	128.8	$	239.4	$	440.1	$	2,400.9
Operating loss	(21.5)		(6.8)		(9.8)		(36.9)		(75.0)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Debt	6 Months Ended
Debt	Aug. 03, 2024
Debt Disclosure [Abstract]
Debt	Debt As of August 3, 2024, July 29, 2023 and February 3, 2024, there was $23.4 million, $34.6 million and $28.5 million, of outstanding debt, respectively. Total outstanding debt includes $11.0 million, $11.0 million and $10.8 million of short-term debt as of August 3, 2024, July 29, 2023 and February 3, 2024, respectively, which represents the current portion of the French Term Loans. During fiscal 2020, our French subsidiary, Micromania SAS, entered into six separate unsecured term loans for a total of €40.0 million. In the second quarter of 2021, at the request of Micromania SAS, these term loans were extended for five years, with an amortization plan for the principal starting in October 2022. In connection with the extension, the interest rate increased from zero to 0.7% for three of the term loans totaling €20.0 million, and 1% for the remaining three term loans totaling €20.0 million. The French government has guaranteed 90% of the term loans pursuant to a state guaranteed loan program instituted in connection with the COVID-19 pandemic.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 14.8	$ (2.8)	$ (17.5)	$ (53.3)
Other comprehensive loss:
Foreign currency translation adjustment	0.1	1.4	0.4	(6.7)
Reclassification of foreign currency gain included in net income	0.0	(1.9)	0.0	(3.1)
Net change in unrealized gain (loss) on available-for-sale securities	0.0	(0.9)	0.2	(0.5)
Reclassification of realized loss on available-for-sale securities included in net loss	0.0	0.1	0.0	1.0
Total comprehensive income (loss)	$ 14.9	$ (4.1)	$ (16.9)	$ (62.6)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Aug. 03, 2024
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The condensed consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The condensed consolidated financial statements included herein reflect all adjustments (consisting only of normal, recurring adjustments) which are, in our opinion, necessary for a fair presentation of the information for the periods presented. These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. Accordingly, they exclude certain disclosures required under GAAP for complete consolidated financial statements.
Fiscal Period	The accompanying condensed consolidated financial statements and notes are unaudited. The consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the 53 weeks ended February 3, 2024 ("fiscal 2023") filed with the Securities and Exchange Commission ("SEC") on March 26, 2024, as amended by our Annual Report on Form 10-K/A filed with the SEC on March 27, 2024 (as amended, the “2023 Annual Report on Form 10-K”). Due to the seasonal nature of our business, our results of operations for the six months ended August 3, 2024 are not indicative of our future results for the 52 weeks ending February 1, 2025 ("fiscal 2024"). Our fiscal year is composed of the 52 or 53 weeks ending on the Saturday closest to the last day of January. Fiscal 2024 consists of 52 weeks ending on February 1, 2025. Fiscal 2023 consisted of 53 weeks ended on February 3, 2024. All three month periods presented herein contain 13 weeks and all six month periods presented herein contain 26 weeks. All references to years, quarters and months relate to fiscal periods rather than calendar periods. Our business, like that of many retailers, is seasonal, with the major portion of the net sales realized during the fourth quarter, which includes the holiday selling season.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying footnotes. We regularly evaluate the estimates related to our assets and liabilities, contingent assets and liabilities, and the reported amounts of revenues and expenses. In preparing these condensed consolidated financial statements, we have made our best estimates and judgments of certain amounts recognized in the condensed consolidated financial statements, giving due consideration to materiality. Changes in the estimates and assumptions that we have used could have a significant impact on our financial results. Actual results could differ from those estimates.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash Our cash and cash equivalents are carried at fair value and consist primarily of cash, money market funds, cash deposits with commercial banks, U.S. government bonds and notes, and highly rated direct short-term instruments with an original maturity of 90 days or less. Restricted cash consists primarily of bank deposits that collateralize our obligations to vendors and landlords.
Investments	Investments We have traditionally invested our excess cash in investment grade short-term fixed income securities, which consist of U.S. government and agency securities. Such investments with an original maturity in excess of 90 days and less than one year are classified as marketable securities on our Condensed Consolidated Balance Sheets. The Company classifies these marketable securities as available-for-sale debt securities and records them at fair value. Unrealized holding gains and losses are recognized in accumulated other comprehensive loss on our Condensed Consolidated Balance Sheets. Realized gains and losses upon sale or extinguishment are reported in other expense, net in our Condensed Consolidated Statements of Operations. Each reporting period, we evaluate whether declines in fair value below carrying value are due to expected credit losses, as well as our ability and intent to hold the investment until a forecasted recovery occurs. On December 5, 2023, the Board of Directors approved a new investment policy (the “Investment Policy”). Subsequently, on March 21, 2024, the Board of Directors unanimously authorized revisions to the Investment Policy to codify the role of certain members of the Board of Directors in overseeing the Company’s investments. In accordance with the revised Investment Policy, the Board of Directors has delegated authority to manage the Company’s portfolio of securities investments to an Investment Committee consisting of the Company's Chairman of the Board of Directors and Chief Executive Officer, Ryan Cohen, and two independent members of the Board of Directors, together with such personnel and advisors as the Investment Committee may choose.
Assets Held-for-Sale	Assets Held-for-Sale We consider assets to be held for sale when management, with appropriate authority, approves and commits to a formal plan to actively market the assets for sale at a price reasonable in relation to their estimated fair value, the assets are available for immediate sale in their present condition, an active program to locate a buyer has been initiated, the sale of the assets is probable and expected to be completed within one year, and it is unlikely that significant changes will be made to the plan. Upon designation as held for sale, we record the assets at the lower of their carrying value or their estimated fair value, reduced for the cost to dispose the assets.
Fair Value Measurements	Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Applicable accounting standards require disclosures that categorize assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. Each fair value measurement is reported in one of the following three levels: •Level 1 inputs are quoted prices in active markets for identical assets or liabilities. •Level 2 inputs are observable inputs other than quoted prices included in Level 1 for the asset or liability, either directly or indirectly through market-corroborated inputs. •Level 3 inputs are unobservable inputs for the asset or liability reflecting our assumptions about pricing by market participants. Assets and Liabilities that are Measured at Fair Value on a Recurring Basis Assets and liabilities that are measured at fair value on a recurring basis include our cash equivalents, marketable securities, foreign currency contracts, company-owned life insurance policies with a cash surrender value, and certain nonqualified deferred compensation liabilities. We measure the fair value of cash equivalents and certain marketable securities based on quoted prices in active markets for identical assets. Other marketable securities were valued either based on recent trades of securities in inactive markets or based on quoted market prices of similar instruments and other significant inputs derived from or corroborated by observable market data. Our investments in U.S. government treasury notes and bills are classified as available-for-sale debt securities, are reported at fair value on a recurring basis, and utilize Level 1 inputs for measurement. Our investments in time deposits are reported at fair value and utilize Level 1 inputs for measurement. We measure the fair value of our foreign currency contracts, life insurance policies with cash surrender values and certain nonqualified deferred compensation liabilities based on Level 2 inputs using quotations provided by major market news services, such as Bloomberg, and industry-standard models that consider various assumptions, including quoted forward prices, time value, volatility factors, contractual prices for the underlying instruments, and other relevant economic measures, all of which are observable in active markets. When appropriate, valuations are adjusted to reflect credit considerations, generally based on available market evidence.

- Definition

Disclosure of accounting policy for investment in financial asset.

+ References + Details

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Aug. 03, 2024	May 04, 2024	Jul. 29, 2023	Apr. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 14.8	$ (32.3)	$ (2.8)	$ (50.5)	$ (17.5)	$ (53.3)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 2.7	$ (0.2)	$ (0.7)	$ (0.3)
Effective tax rate	15.40%	6.70%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

Revenue - Performance Obligations (Details) - USD ($) $ in Millions	Aug. 03, 2024	Jul. 29, 2023
Disaggregation of Revenue [Line Items]
Total performance obligations	$ 248.2	$ 286.7
Unredeemed customer liabilities
Disaggregation of Revenue [Line Items]
Total performance obligations	140.2	163.4
Extended warranties
Disaggregation of Revenue [Line Items]
Total performance obligations	59.9	82.8
Subscriptions
Disaggregation of Revenue [Line Items]
Total performance obligations	$ 48.1	$ 40.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Segment Information - Narrative (Details)	6 Months Ended
Segment Information - Narrative (Details)	Aug. 03, 2024 segment state
Segment Reporting Information [Line Items]
Number of geographic segments \| segment	4
United States
Segment Reporting Information [Line Items]
Number of states the entity operates \| state	50

Revenue

6 Months Ended

Aug. 03, 2024

Revenue from Contract with Customer [Abstract]

Revenue

The following table presents net sales by significant product category:


	Three Months Ended				Six Months Ended
	August 3, 2024		July 29, 2023		August 3, 2024		July 29, 2023
Hardware and accessories (1)	$	451.2	$	597.0	$	956.5	$	1,322.8
Software (2)	207.7		397.0		447.4		735.4
Collectibles	139.4		169.8		276.2		342.7
Total net sales	$	798.3	$	1,163.8	$	1,680.1	$	2,400.9

__________________________________________________

(1) Includes sales of new and pre-owned hardware, accessories, hardware bundles in which hardware and digital or physical software are sold together in a single SKU, interactive game figures, strategy guides, mobile and consumer electronics.

(2) Includes sales of new and pre-owned gaming software, digital software, and PC entertainment software.

See Note 8, "Segment Information," for net sales by geographic location.

Performance Obligations

We have arrangements with customers where our performance obligations are satisfied over time, which primarily relate to extended warranties and our GameStop Pro® rewards program, formerly known as PowerUp Rewards.

We expect to recognize revenue in future periods for remaining performance obligations we have associated with unredeemed gift cards, trade-in credits, reservation deposits and our GameStop Pro® rewards program (collectively, "unredeemed customer liabilities"), extended warranties, and subscriptions to our GameStop Pro® rewards program.

Performance obligations associated with unredeemed customer liabilities are primarily satisfied at the time customers redeem gift cards, trade-in credits, customer deposits or loyalty program points for products that we offer. Unredeemed customer liabilities are generally redeemed within one year of issuance.

We offer extended warranties on certain new and pre-owned products with terms generally ranging from 12 to 24 months, depending on the product. Revenues for extended warranties sold are recognized on a straight-line basis over the life of the contract.

Revenue for subscription to our GameStop Pro® rewards program are recognized on a straight-line basis over a 12-month subscription term.

The following table presents our performance obligations recognized in accrued liabilities and other current liabilities on our Condensed Consolidated Statements of Operations:


	August 3, 2024		July 29, 2023
Unredeemed customer liabilities	$	140.2	$	163.4
Extended warranties	59.9		82.8
Subscriptions	48.1		40.5
Total performance obligations	$	248.2	$	286.7

Significant Judgments and Estimates

We accrue loyalty points related to our GameStop Pro® rewards program at the estimated retail price per point, net of estimated breakage, which can be redeemed by loyalty program members for products we offer. The estimated retail price per point is based on the actual historical retail prices of products purchased through the redemption of loyalty points. We estimate breakage of loyalty points and unredeemed gift cards based on historical redemption rates.

Contract Balances

Our contract liabilities primarily consist of unredeemed customer liabilities and deferred revenues associated with gift cards, extended warranties and subscriptions to our GameStop Pro® rewards program.

The following table presents a rollforward of our contract liabilities:


	August 3, 2024		July 29, 2023
Contract liability beginning balance	$	253.1	$	338.2
Increase to contract liabilities (1)	140.3		320.1
Decrease to contract liabilities (2)	(145.3)		(371.0)
Other adjustments (3)	0.1		(0.6)
Contract liability ending balance	$	248.2	$	286.7

__________________________________________________

(1) Includes issuances of gift cards, trade-in credits and loyalty points, new reservation deposits, new subscriptions to our GameStop Pro® rewards program and extended warranties sold.

(2) Consists of redemptions and breakage of gift cards, and trade-in credits, redemptions of reservation deposits, and redemptions, breakage, and expiration of loyalty points. Additionally, this included revenues recognized for our GameStop Pro® rewards program and extended warranties. During the six months ended August 3, 2024 and July 29, 2023, there were $26.3 million and $25.5 million, respectively, of gift cards redeemed that were outstanding as of February 3, 2024 and January 28, 2023, respectively.

(3) Primarily includes foreign currency translation adjustments.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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+ Details

Summary of Significant Accounting Policies - Narrative (Details) $ in Millions	6 Months Ended
	Aug. 03, 2024 USD ($)	Mar. 21, 2024 member
Property, Plant and Equipment [Line Items]
Number of independent Board of Directors members on Investment Committee \| member		2
Europe \| Disposal Group, Held-for-sale, Not Discontinued Operations
Property, Plant and Equipment [Line Items]
Remaining total net carrying value of properties held for sale	$ 2.1
Impairment charges for assets held for sale	$ 0.0

Fair Value Measurements - Fair Value of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Millions	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Assets
Adjusted Cost	$ 11.3	$ 280.7	$ 301.8
Unrealized Gains	0.0	0.0	0.0
Unrealized Losses	0.0	0.0	(0.4)
Fair Value	11.3	280.7	301.4
Liabilities
Total liabilities	0.1	0.4	6.8
Level 1 \| U.S. government securities
Assets
Adjusted Cost	0.0	265.3	258.5
Unrealized Gains	0.0	0.0	0.0
Unrealized Losses	0.0	0.0	(0.4)
Fair Value	0.0	265.3	258.1
Level 1 \| Time Deposits
Assets
Adjusted Cost	11.1	14.9	42.9
Unrealized Gains	0.0	0.0	0.0
Unrealized Losses	0.0	0.0	0.0
Fair Value	11.1	14.9	42.9
Level 2
Liabilities
Foreign currency contracts			6.4
Nonqualified deferred compensation	0.1	0.4	0.4
Level 2 \| Company-owned life insurance
Assets
Adjusted Cost	0.2	0.5	0.4
Unrealized Gains	0.0	0.0	0.0
Unrealized Losses	0.0	0.0	0.0
Fair Value	$ 0.2	$ 0.5	$ 0.4

Segment Information - Sales by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Segment Reporting Information [Line Items]
Net sales	$ 798.3	$ 1,163.8	$ 1,680.1	$ 2,400.9
Operating earnings (loss)	(22.0)	(16.6)	(72.6)	(75.0)
United States
Segment Reporting Information [Line Items]
Net sales	545.6	760.2	1,162.9	1,592.6
Operating earnings (loss)	(1.5)	4.7	(26.9)	(21.5)
Canada
Segment Reporting Information [Line Items]
Net sales	37.7	66.0	80.3	128.8
Operating earnings (loss)	(4.2)	(3.1)	(8.6)	(6.8)
Australia
Segment Reporting Information [Line Items]
Net sales	87.8	124.1	167.4	239.4
Operating earnings (loss)	(5.9)	(3.8)	(14.0)	(9.8)
Europe
Segment Reporting Information [Line Items]
Net sales	127.2	213.5	269.5	440.1
Operating earnings (loss)	$ (10.4)	$ (14.4)	$ (23.1)	$ (36.9)

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

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+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Current assets:
Cash and cash equivalents	$ 4,193.1	$ 921.7	$ 894.7
Marketable securities	11.1	277.6	300.0
Receivables, net of allowance of $4.4, $2.2 and $4.4, respectively	59.7	91.0	75.6
Merchandise inventories, net	560.0	632.5	676.9
Prepaid expenses and other current assets	60.0	51.4	58.0
Total current assets	4,883.9	1,974.2	2,005.2
Property and equipment, net of accumulated depreciation of $846.0, $983.0 and $851.2, respectively	78.9	94.9	119.3
Operating lease right-of-use assets	490.9	555.8	583.0
Deferred income taxes	17.5	17.3	17.6
Other noncurrent assets	65.1	66.8	78.6
Total assets	5,536.3	2,709.0	2,803.7
Current liabilities:
Accounts payable	220.5	324.0	378.0
Accrued liabilities and other current liabilities	377.8	412.0	487.5
Current portion of operating lease liabilities	174.2	187.7	194.9
Current portion of long-term debt	11.0	10.8	11.0
Total current liabilities	783.5	934.5	1,071.4
Long-term debt	12.4	17.7	23.6
Operating lease liabilities	335.9	386.6	405.7
Other long-term liabilities	21.1	31.6	35.8
Total liabilities	1,152.9	1,370.4	1,536.5
Stockholders’ equity:
Class A common stock — $.001 par value; 1,000 shares authorized; 426.5, 305.2 and 305.7 shares issued and outstanding, respectively	0.2	0.1	0.1
Additional paid-in capital	4,696.5	1,634.9	1,621.1
Accumulated other comprehensive loss	(83.0)	(83.6)	(81.2)
Retained loss	(230.3)	(212.8)	(272.8)
Total stockholders’ equity	4,383.4	1,338.6	1,267.2
Total liabilities and stockholders’ equity	$ 5,536.3	$ 2,709.0	$ 2,803.7

Earnings Per Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
Earnings Per Share (Details) - shares shares in Millions	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average common shares outstanding (in shares)	386.4	304.8	346.2	304.7
Dilutive effect of restricted stock awards (in shares)	0.8	0.0	0.0	0.0
Weighted-average diluted common shares (in shares)	387.2	304.8	346.2	304.7
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	1.9	4.0	2.7	4.0

Revenue - Narrative (Details)	6 Months Ended
Revenue - Narrative (Details)	Aug. 03, 2024
Minimum
Disaggregation of Revenue [Line Items]
Extended warranty term	12 months
Maximum
Disaggregation of Revenue [Line Items]
Extended warranty term	24 months

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Revenue - Change In Contract Liabilities (Details) - USD ($) $ in Millions	6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023
Contract With Customer, Contract Liabilities [Roll Forward]
Contract liability beginning balance	$ 253.1	$ 338.2
Increase to contract liabilities	140.3	320.1
Decrease to contract liabilities	(145.3)	(371.0)
Other adjustments	0.1	(0.6)
Contract liability ending balance	248.2	286.7
Gift Card Trade In Credits
Contract With Customer, Contract Liabilities [Roll Forward]
Revenue recognized from gift cards redeemed	$ 26.3	$ 25.5

Revenue (Tables)

6 Months Ended

Aug. 03, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Sales and Percentage of Total Net Sales by Significant Product Category

The following table presents net sales by significant product category:


	Three Months Ended				Six Months Ended
	August 3, 2024		July 29, 2023		August 3, 2024		July 29, 2023
Hardware and accessories (1)	$	451.2	$	597.0	$	956.5	$	1,322.8
Software (2)	207.7		397.0		447.4		735.4
Collectibles	139.4		169.8		276.2		342.7
Total net sales	$	798.3	$	1,163.8	$	1,680.1	$	2,400.9

__________________________________________________

(2) Includes sales of new and pre-owned gaming software, digital software, and PC entertainment software.

Schedule of Performance Obligations Associated with Subscriptions

The following table presents our performance obligations recognized in accrued liabilities and other current liabilities on our Condensed Consolidated Statements of Operations:


	August 3, 2024		July 29, 2023
Unredeemed customer liabilities	$	140.2	$	163.4
Extended warranties	59.9		82.8
Subscriptions	48.1		40.5
Total performance obligations	$	248.2	$	286.7

Schedule of Contract with Customer, Asset and Liability

The following table presents a rollforward of our contract liabilities:


	August 3, 2024		July 29, 2023
Contract liability beginning balance	$	253.1	$	338.2
Increase to contract liabilities (1)	140.3		320.1
Decrease to contract liabilities (2)	(145.3)		(371.0)
Other adjustments (3)	0.1		(0.6)
Contract liability ending balance	$	248.2	$	286.7

__________________________________________________

(1) Includes issuances of gift cards, trade-in credits and loyalty points, new reservation deposits, new subscriptions to our GameStop Pro® rewards program and extended warranties sold.

(3) Primarily includes foreign currency translation adjustments.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Aug. 03, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Income Taxes	6 Months Ended
Income Taxes	Aug. 03, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our interim tax provision was determined using an estimated annual effective tax rate and adjusted for discrete taxable events and/or adjustments that have occurred during the six months ended August 3, 2024. We recognized an income tax expense of $2.7 million, or 15.4%, for the three months ended August 3, 2024 compared to an income tax benefit of $0.2 million, or 6.7%, for the three months ended July 29, 2023. Our effective income tax rate for the three months ended August 3, 2024 as well as the six months ended August 3, 2024 are primarily due to the recognition of tax benefits on certain current period losses, partially offset by forecasted income taxes due in certain foreign and state jurisdictions in which we operate.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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+ Details

Commitments and Contingencies (Details) - Revolving Credit Facility $ in Millions	Aug. 03, 2024 USD ($)
2026 Revolver
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 250.0
Outstanding letters of credit	5.9
Other Revolving Credit Facilities
Line of Credit Facility [Line Items]
Outstanding letters of credit and bank guarantees	9.7
Cash collateral and included in restricted cash	$ 8.3

Fair Value Measurements (Tables)

6 Months Ended

Aug. 03, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present our assets and liabilities measured at fair value on a recurring basis:


	August 3, 2024
	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets
Level 1:
U.S. government securities(1)	$	—	$	—	$	—	$	—
Time Deposits(2)	11.1		—		—		11.1
Level 2:
Company-owned life insurance(3)	0.2		—		—		0.2
Total assets	$	11.3	$	—	$	—	$	11.3
Liabilities
Level 2:

Nonqualified deferred compensation(4)	0.1		—		—		0.1
Total liabilities	$	0.1	$	—	$	—	$	0.1


	July 29, 2023
	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets
Level 1:
U.S. government securities(1)	$	258.5	$	—	$	(0.4)	$	258.1
Time Deposits(2)	$	42.9	$	—	$	—	$	42.9
Level 2:

Company-owned life insurance(3)	0.4		—		—		0.4
Total assets	$	301.8	$	—	$	(0.4)	$	301.4
Liabilities
Level 2:
Foreign currency contracts(4)	$	6.4	$	—	$	—	$	6.4
Nonqualified deferred compensation(4)	0.4		—		—		0.4
Total liabilities	$	6.8	$	—	$	—	$	6.8


	February 3, 2024
	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets
Level 1:
U.S. government securities(1)	$	265.3	$	—	$	—	$	265.3
Time Deposits(2)	14.9		—		—		14.9
Level 2:

Company-owned life insurance(3)	0.5		—		—		0.5
Total assets	$	280.7	$	—	$	—	$	280.7
Liabilities
Level 2:

Nonqualified deferred compensation(4)	0.4		—		—		0.4
Total liabilities	$	0.4	$	—	$	—	$	0.4

_________________________________________________

(1) Recognized in cash and cash equivalents and marketable securities on our Condensed Consolidated Balance Sheets.

(2) Recognized in marketable securities on our Condensed Consolidated Balance Sheets.

(3) Recognized in other noncurrent assets on our Condensed Consolidated Balance Sheets.

(4) Recognized in accrued liabilities and other current liabilities on our Condensed Consolidated Balance Sheets.

Debt (Details) € in Millions, $ in Millions	3 Months Ended
Debt (Details) € in Millions, $ in Millions	Jul. 31, 2021 EUR (€) loan	Aug. 03, 2024 USD ($)	Feb. 03, 2024 USD ($)	Jul. 29, 2023 USD ($)	May 01, 2021	Jan. 30, 2021 EUR (€) loan
Debt Instrument [Line Items]
Current portion of outstanding debt \| $		$ 11.0	$ 10.8	$ 11.0
French Term Loans \| Unsecured Debt
Debt Instrument [Line Items]
Outstanding debt \| $		$ 23.4	$ 28.5	$ 34.6
Number of separate unsecured term loans \| loan						6
Debt issued \| €						€ 40.0
Debt instrument, extension term	5 years
Percent guaranteed by French government	90.00%
French Term Loans At 0.7% \| Unsecured Debt
Debt Instrument [Line Items]
Number of separate unsecured term loans \| loan	3
Debt issued \| €	€ 20.0
Interest rate	0.70%				0.00%
French Term Loans At 1% \| Unsecured Debt
Debt Instrument [Line Items]
Number of separate unsecured term loans \| loan	3
Debt issued \| €	€ 20.0
Interest rate	1.00%

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Aug. 03, 2024

Accounting Policies [Abstract]

Schedule of Reconciliation of Cash and Cash Equivalents

The following table presents a reconciliation of cash, cash equivalents and restricted cash in our Condensed Consolidated Balance Sheets to total cash, cash equivalents and restricted cash in our Condensed Consolidated Statements of Cash Flows:


	August 3, 2024		July 29, 2023		February 3, 2024
Cash and cash equivalents	$	4,193.1	$	894.7	$	921.7
Restricted cash(1)	3.5		5.1		3.5
Long-term restricted cash(2)	20.4		15.4		13.7

Total cash, cash equivalents and restricted cash	$	4,217.0	$	915.2	$	938.9

_________________________________________________

(1) Recognized in prepaid expenses and other current assets on our Condensed Consolidated Balance Sheets.

(2) Recognized in other noncurrent assets on our Condensed Consolidated Balance Sheets.

Schedule of Reconciliation of Restricted Cash


	August 3, 2024		July 29, 2023		February 3, 2024
Cash and cash equivalents	$	4,193.1	$	894.7	$	921.7
Restricted cash(1)	3.5		5.1		3.5
Long-term restricted cash(2)	20.4		15.4		13.7

Total cash, cash equivalents and restricted cash	$	4,217.0	$	915.2	$	938.9

_________________________________________________

(1) Recognized in prepaid expenses and other current assets on our Condensed Consolidated Balance Sheets.

(2) Recognized in other noncurrent assets on our Condensed Consolidated Balance Sheets.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Millions, $ in Millions	Total	Class A Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Loss
Beginning balance (in shares) at Jan. 28, 2023		304.6
Beginning balance at Jan. 28, 2023	$ 1,322.3	$ 0.1	$ 1,613.6	$ (71.9)	$ (219.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(50.5)				(50.5)
Foreign currency translation	(8.1)			(8.1)
Reclassification of foreign currency loss to net income	(1.2)			(1.2)
Stock-based compensation expense, net	7.9		7.9
Settlement of stock-based awards (in shares)		0.1
Settlement of stock-based awards	(0.1)		(0.1)
Net change in unrealized loss on available-for-sale securities	0.4			0.4
Reclassification of realized loss on marketable securities included in net loss	0.9			0.9
Ending balance (in shares) at Apr. 29, 2023		304.7
Ending balance at Apr. 29, 2023	1,271.6	$ 0.1	1,621.4	(79.9)	(270.0)
Beginning balance (in shares) at Jan. 28, 2023		304.6
Beginning balance at Jan. 28, 2023	1,322.3	$ 0.1	1,613.6	(71.9)	(219.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(53.3)
Foreign currency translation	(6.7)
Reclassification of foreign currency loss to net income	(3.1)
Net change in unrealized loss on available-for-sale securities	(0.5)
Reclassification of realized loss on marketable securities included in net loss	$ 1.0
Ending balance (in shares) at Jul. 29, 2023	305.2	305.2
Ending balance at Jul. 29, 2023	$ 1,267.2	$ 0.1	1,621.1	(81.2)	(272.8)
Beginning balance (in shares) at Apr. 29, 2023		304.7
Beginning balance at Apr. 29, 2023	1,271.6	$ 0.1	1,621.4	(79.9)	(270.0)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2.8)				(2.8)
Foreign currency translation	1.4			1.4
Reclassification of foreign currency loss to net income	(1.9)			(1.9)
Stock-based compensation expense, net	(0.3)		(0.3)
Settlement of stock-based awards (in shares)		0.5
Net change in unrealized loss on available-for-sale securities	(0.9)			(0.9)
Reclassification of realized loss on marketable securities included in net loss	$ 0.1			0.1
Ending balance (in shares) at Jul. 29, 2023	305.2	305.2
Ending balance at Jul. 29, 2023	$ 1,267.2	$ 0.1	1,621.1	(81.2)	(272.8)
Beginning balance (in shares) at Feb. 03, 2024	305.7	305.7
Beginning balance at Feb. 03, 2024	$ 1,338.6	$ 0.1	1,634.9	(83.6)	(212.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(32.3)				(32.3)
Foreign currency translation	0.3			0.3
Stock-based compensation expense, net	0.6		0.6
Settlement of stock-based awards (in shares)		0.5
Unrealized gain on Marketable Securities	0.2			0.2
Ending balance (in shares) at May. 04, 2024		306.2
Ending balance at May. 04, 2024	$ 1,307.4	$ 0.1	1,635.5	(83.1)	(245.1)
Beginning balance (in shares) at Feb. 03, 2024	305.7	305.7
Beginning balance at Feb. 03, 2024	$ 1,338.6	$ 0.1	1,634.9	(83.6)	(212.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(17.5)
Foreign currency translation	0.4
Reclassification of foreign currency loss to net income	0.0
Net change in unrealized loss on available-for-sale securities	0.2
Reclassification of realized loss on marketable securities included in net loss	$ 0.0
Ending balance (in shares) at Aug. 03, 2024	426.5	426.5
Ending balance at Aug. 03, 2024	$ 4,383.4	$ 0.2	4,696.5	(83.0)	(230.3)
Beginning balance (in shares) at May. 04, 2024		306.2
Beginning balance at May. 04, 2024	1,307.4	$ 0.1	1,635.5	(83.1)	(245.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	14.8				14.8
Issuance of common stock, net of cost (in shares)		120.3
Issuance of common stock, net of cost	3,055.7	$ 0.1	3,055.6
Foreign currency translation	0.1			0.1
Reclassification of foreign currency loss to net income	0.0
Stock-based compensation expense, net	5.4		5.4
Net change in unrealized loss on available-for-sale securities	0.0
Reclassification of realized loss on marketable securities included in net loss	$ 0.0
Ending balance (in shares) at Aug. 03, 2024	426.5	426.5
Ending balance at Aug. 03, 2024	$ 4,383.4	$ 0.2	$ 4,696.5	$ (83.0)	$ (230.3)

Revenue - Sales and Percentage of Total Net Sales by Significant Product Category (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Disaggregation of Revenue [Line Items]
Total net sales	$ 798.3	$ 1,163.8	$ 1,680.1	$ 2,400.9
Hardware and accessories
Disaggregation of Revenue [Line Items]
Total net sales	451.2	597.0	956.5	1,322.8
Software
Disaggregation of Revenue [Line Items]
Total net sales	207.7	397.0	447.4	735.4
Collectibles
Disaggregation of Revenue [Line Items]
Total net sales	$ 139.4	$ 169.8	$ 276.2	$ 342.7

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023
Cash flows from operating activities:
Net loss	$ (17.5)	$ (53.3)
Adjustments to reconcile net loss to net cash flows used in operating activities:
Depreciation and amortization	24.4	26.3
Stock-based compensation expense, net	6.0	7.6
(Gain) loss on disposal of property and equipment, net	(2.3)	0.6
Other, net	0.5	(2.9)
Changes in operating assets and liabilities:
Receivables, net	33.9	79.0
Merchandise inventories, net	72.7	0.4
Prepaid expenses and other assets	(2.1)	4.0
Prepaid income taxes and income taxes payable	(3.4)	(1.3)
Accounts payable and accrued liabilities	(143.7)	(267.4)
Operating lease right-of-use assets and lease liabilities	0.5	(3.4)
Changes in other long-term liabilities	(10.2)	(1.4)
Net cash flows used in operating activities	(41.2)	(211.8)
Cash flows from investing activities:
Proceeds from sale of property and equipment	9.8	0.0
Proceeds from sale of digital assets	0.0	2.8
Purchases of marketable securities	(7.5)	(313.0)
Proceeds from maturities and sales of marketable securities	273.9	270.5
Capital expenditures	(8.0)	(19.2)
Net cash flows provided by (used in) investing activities	268.2	(58.9)
Cash flows from financing activities:
Settlement of stock-based awards	0.0	(0.1)
Proceeds from issuance of shares in at-the-market (ATM) offering, net of costs	3,055.7	0.0
Repayments of debt	(5.5)	(5.4)
Net cash flows provided by (used in) financing activities	3,050.2	(5.5)
Exchange rate effect on cash, cash equivalents and restricted cash	0.9	(4.6)
Increase (decrease) in cash, cash equivalents and restricted cash	3,278.1	(280.8)
Cash, cash equivalents and restricted cash at beginning of period	938.9	1,196.0
Cash, cash equivalents and restricted cash at end of period	$ 4,217.0	$ 915.2

Fair Value Measurements - Narrative (Details) - French Term Loans - Unsecured Debt - USD ($) $ in Millions	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan carrying value	$ 23.4	$ 28.5	$ 34.6
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan fair value	$ 26.9

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Summary of Significant Accounting Policies - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023	Jan. 28, 2023
Accounting Policies [Abstract]
Cash and cash equivalents	$ 4,193.1	$ 921.7	$ 894.7
Restricted cash	3.5	3.5	5.1
Long-term restricted cash	20.4	13.7	15.4
Total cash, cash equivalents and restricted cash	$ 4,217.0	$ 938.9	$ 915.2	$ 1,196.0

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Aug. 03, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Letter of Credit Facilities We maintain uncommitted letter of credit facilities with certain banks that provide for the issuance of letters of credit and bank guarantees, at times supported by cash collateral, and also had the ability to issue letters of credit from time to time pursuant to our $250 million revolving credit facility, which matures in November 2026 (the "2026 Revolver"). As of August 3, 2024, we had approximately $5.9 million of outstanding letters of credit issued under the 2026 Revolver. We also had $9.7 million of outstanding letters of credit and other bank guarantees issued outside of the 2026 Revolver, of which $8.3 million are supported by cash collateral and included in restricted cash. During the six months ended August 3, 2024, there were no material changes to our commitments as disclosed in our 2023 Annual Report on Form 10-K. On August 27, 2024, we voluntarily terminated the 2026 Revolver, including all commitments and obligations thereunder. In connection with the termination we cancelled all letters of credit issued thereunder and replaced them with letters of credit issued under uncommitted letter of credit facilities supported by cash collateral. Legal Proceedings In the ordinary course of business, we are, from time to time, subject to various legal proceedings, including matters involving wage and hour employee class actions, stockholder actions, and consumer class actions, violent acts, and other conflicts. We may enter into discussions regarding settlement of these and other types of lawsuits, and may enter into settlement agreements, if we believe settlement is in the best interest of our stockholders. We do not believe that any such existing legal proceedings or settlements, individually or in the aggregate, will have a material effect on our financial condition, results of operations or liquidity.

Summary of Significant Accounting Policies

6 Months Ended

Aug. 03, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Included below are certain updates related to policies included in Part II, Item 8 "Notes to Consolidated Financial Statements", Note 2, Summary of Significant Accounting Policies," in the 2023 Annual Report on Form 10-K.

Cash and Cash Equivalents and Restricted Cash

Our cash and cash equivalents are carried at fair value and consist primarily of cash, money market funds, cash deposits with commercial banks, U.S. government bonds and notes, and highly rated direct short-term instruments with an original maturity of 90 days or less. Restricted cash consists primarily of bank deposits that collateralize our obligations to vendors and landlords.


	August 3, 2024		July 29, 2023		February 3, 2024
Cash and cash equivalents	$	4,193.1	$	894.7	$	921.7
Restricted cash(1)	3.5		5.1		3.5
Long-term restricted cash(2)	20.4		15.4		13.7

Total cash, cash equivalents and restricted cash	$	4,217.0	$	915.2	$	938.9

_________________________________________________

(1) Recognized in prepaid expenses and other current assets on our Condensed Consolidated Balance Sheets.

(2) Recognized in other noncurrent assets on our Condensed Consolidated Balance Sheets.

Investments

We have traditionally invested our excess cash in investment grade short-term fixed income securities, which consist of U.S. government and agency securities. Such investments with an original maturity in excess of 90 days and less than one year are classified as marketable securities on our Condensed Consolidated Balance Sheets. The Company classifies these marketable securities as available-for-sale debt securities and records them at fair value.

Unrealized holding gains and losses are recognized in accumulated other comprehensive loss on our Condensed Consolidated Balance Sheets. Realized gains and losses upon sale or extinguishment are reported in other expense, net in our Condensed Consolidated Statements of Operations. Each reporting period, we evaluate whether declines in fair value below carrying value are due to expected credit losses, as well as our ability and intent to hold the investment until a forecasted recovery occurs.

On December 5, 2023, the Board of Directors approved a new investment policy (the “Investment Policy”). Subsequently, on March 21, 2024, the Board of Directors unanimously authorized revisions to the Investment Policy to codify the role of certain members of the Board of Directors in overseeing the Company’s investments. In accordance with the revised Investment Policy, the Board of Directors has delegated authority to manage the Company’s portfolio of securities investments to an Investment Committee consisting of the Company's Chairman of the Board of Directors and Chief Executive Officer, Ryan Cohen, and two independent members of the Board of Directors, together with such personnel and advisors as the Investment Committee may choose.

Assets Held-for-Sale

We consider assets to be held for sale when management, with appropriate authority, approves and commits to a formal plan to actively market the assets for sale at a price reasonable in relation to their estimated fair value, the assets are available for immediate sale in their present condition, an active program to locate a buyer has been initiated, the sale of the assets is probable and expected to be completed within one year, and it is unlikely that significant changes will be made to the plan. Upon designation as held for sale, we record the assets at the lower of their carrying value or their estimated fair value, reduced for the cost to dispose the assets.

During the first half of fiscal 2023, we committed to a plan to sell additional properties in our Europe segment, consisting of buildings, land, and other property and equipment. The remaining total net carrying value of these properties was $2.1 million as of August 3, 2024. There were no impairment charges recognized on these asset groups as the estimated fair value exceeded their respective carrying values. The asset groups are classified as assets held for sale in other noncurrent assets on our Condensed Consolidated Balance Sheets as of August 3, 2024, and were sold subsequent to August 3, 2024.

During the fourth quarter of fiscal 2023, we announced plans to close our York, Pennsylvania fulfillment facility, to consolidate U.S. fulfillment activities to our Grapevine, Texas facility. This was completed during the first quarter of fiscal 2024.

Earnings Per Share

6 Months Ended

Aug. 03, 2024

Earnings Per Share [Abstract]

Earnings Per Share

Basic net income (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted-average number of common shares outstanding and potentially dilutive securities outstanding during the period. Potentially dilutive securities include stock options, unvested restricted stock and unvested restricted stock units outstanding during the period, using the treasury stock method. Potentially dilutive securities are excluded from the computations of diluted earnings per share if their effect would be anti-dilutive. A net loss from continuing operations causes all potentially dilutive securities to be anti-dilutive.

The following table presents a reconciliation of shares used in calculating basic and diluted net loss per common share:


	Three Months Ended		Six Months Ended
	August 3, 2024	July 29, 2023	August 3, 2024	July 29, 2023
Weighted-average common shares outstanding	386.4	304.8	346.2	304.7
Dilutive effect of restricted stock awards	0.8	—	—	—
Weighted-average diluted common shares	387.2	304.8	346.2	304.7

Anti-dilutive shares:
Restricted stock units	1.9	4.0	2.7	4.0

General Information	6 Months Ended
General Information	Aug. 03, 2024
Accounting Policies [Abstract]
General Information	General Information The Company GameStop Corp. ("GameStop," "we," "us," "our," or the "Company"), a Delaware corporation established in 1996, is a leading specialty retailer offering games and entertainment products through its thousands of stores and ecommerce platforms. We operate our business in four geographic segments: United States, Canada, Australia and Europe. The information contained in these condensed consolidated financial statements refers to continuing operations unless otherwise noted. Basis of Presentation and Consolidation The condensed consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The condensed consolidated financial statements included herein reflect all adjustments (consisting only of normal, recurring adjustments) which are, in our opinion, necessary for a fair presentation of the information for the periods presented. These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. Accordingly, they exclude certain disclosures required under GAAP for complete consolidated financial statements. The accompanying condensed consolidated financial statements and notes are unaudited. The consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the 53 weeks ended February 3, 2024 ("fiscal 2023") filed with the Securities and Exchange Commission ("SEC") on March 26, 2024, as amended by our Annual Report on Form 10-K/A filed with the SEC on March 27, 2024 (as amended, the “2023 Annual Report on Form 10-K”). Due to the seasonal nature of our business, our results of operations for the six months ended August 3, 2024 are not indicative of our future results for the 52 weeks ending February 1, 2025 ("fiscal 2024"). Our fiscal year is composed of the 52 or 53 weeks ending on the Saturday closest to the last day of January. Fiscal 2024 consists of 52 weeks ending on February 1, 2025. Fiscal 2023 consisted of 53 weeks ended on February 3, 2024. All three month periods presented herein contain 13 weeks and all six month periods presented herein contain 26 weeks. All references to years, quarters and months relate to fiscal periods rather than calendar periods. Our business, like that of many retailers, is seasonal, with the major portion of the net sales realized during the fourth quarter, which includes the holiday selling season. At-The-Market Equity Offering Program On May 17, 2024, we entered into an Open Market Sale AgreementSM (the “Sales Agreement”) with Jefferies LLC (the “Sales Agent”) providing for the sale by the Company of shares of our Class A common stock, par value $0.001 per share (“Common Shares”), from time to time through the Sales Agent in connection with an "at-the-market" equity offering program ("ATM Offering"). Pursuant to the prospectus supplement relating to the ATM Offering filed with the SEC on May 17, 2024 (the "May Prospectus Supplement"), we sold an aggregate of 45.0 million Common Shares for aggregate gross proceeds before commissions and offering expenses of approximately $933.4 million. Pursuant to the prospectus supplement relating to the ATM Offering filed with the SEC on June 7, 2024 (the “June Prospectus Supplement”), we sold an additional aggregate of 75.0 million Common Shares for aggregate gross proceeds before commissions and offering expenses of approximately $2,137 million. We intend to use the net proceeds from the ATM Offerings for general corporate purposes, which may include acquisitions and investments in a manner consistent with our investment policy. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying footnotes. We regularly evaluate the estimates related to our assets and liabilities, contingent assets and liabilities, and the reported amounts of revenues and expenses. In preparing these condensed consolidated financial statements, we have made our best estimates and judgments of certain amounts recognized in the condensed consolidated financial statements, giving due consideration to materiality. Changes in the estimates and assumptions that we have used could have a significant impact on our financial results. Actual results could differ from those estimates.

General Information (Details) $ / shares in Units, $ in Thousands			6 Months Ended
	Jun. 07, 2024 USD ($) shares	May 17, 2024 USD ($) $ / shares shares	Aug. 03, 2024 segment $ / shares	Feb. 03, 2024 $ / shares	Jul. 29, 2023 $ / shares
Subsidiary, Sale of Stock [Line Items]
Number of geographic segments \| segment			4
Class A common stock, par value (in dollars per share) \| $ / shares		$ 0.001	$ 0.001	$ 0.001	$ 0.001
At-The-Market-Equity Offering Program
Subsidiary, Sale of Stock [Line Items]
Number of shares sold (in shares) \| shares	75,000,000	45,000,000
Gross proceeds from sale of common stock \| $	$ 2,137,000	$ 933,400

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Aug. 03, 2024	Jul. 29, 2023	Aug. 03, 2024	Jul. 29, 2023
Income Statement [Abstract]
Net sales	$ 798.3	$ 1,163.8	$ 1,680.1	$ 2,400.9
Cost of sales	549.5	857.9	1,186.8	1,807.7
Gross profit	248.8	305.9	493.3	593.2
Selling, general and administrative expenses	270.8	322.5	565.9	668.2
Operating loss	(22.0)	(16.6)	(72.6)	(75.0)
Interest income, net	(39.5)	(11.6)	(54.4)	(21.3)
Other income, net	0.0	(2.0)	0.0	(0.1)
Income (loss) before income taxes	17.5	(3.0)	(18.2)	(53.6)
Income tax expense (benefit)	2.7	(0.2)	(0.7)	(0.3)
Net income (loss)	$ 14.8	$ (2.8)	$ (17.5)	$ (53.3)
Net income (loss) per share:
Basic (in dollars per share)	$ 0.04	$ (0.01)	$ (0.05)	$ (0.17)
Diluted (in dollars per share)	$ 0.04	$ (0.01)	$ (0.05)	$ (0.17)
Weighted-average shares outstanding:
Basic (in shares)	386.4	304.8	346.2	304.7
Diluted (in shares)	387.2	304.8	346.2	304.7

Cover - shares	6 Months Ended
Cover - shares	Aug. 03, 2024	Sep. 04, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 03, 2024
Document Transition Report	false
Entity File Number	1-32637
Entity Registrant Name	GameStop Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-2733559
Entity Address, Address Line One	625 Westport Parkway
Entity Address, City or Town	Grapevine,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76051
City Area Code	(817)
Local Phone Number	424-2000
Title of 12(b) Security	Class A Common Stock
Trading Symbol	GME
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		426,509,592
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001326380
Current Fiscal Year End Date	--01-28

Fair Value Measurements

6 Months Ended

Aug. 03, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Applicable accounting standards require disclosures that categorize assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. Each fair value measurement is reported in one of the following three levels:

•Level 1 inputs are quoted prices in active markets for identical assets or liabilities.

•Level 2 inputs are observable inputs other than quoted prices included in Level 1 for the asset or liability, either directly or indirectly through market-corroborated inputs.

•Level 3 inputs are unobservable inputs for the asset or liability reflecting our assumptions about pricing by market participants.

Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

Assets and liabilities that are measured at fair value on a recurring basis include our cash equivalents, marketable securities, foreign currency contracts, company-owned life insurance policies with a cash surrender value, and certain nonqualified deferred compensation liabilities.

We measure the fair value of cash equivalents and certain marketable securities based on quoted prices in active markets for identical assets. Other marketable securities were valued either based on recent trades of securities in inactive markets or based on quoted market prices of similar instruments and other significant inputs derived from or corroborated by observable market data.

Our investments in U.S. government treasury notes and bills are classified as available-for-sale debt securities, are reported at fair value on a recurring basis, and utilize Level 1 inputs for measurement. Our investments in time deposits are reported at fair value and utilize Level 1 inputs for measurement.

We measure the fair value of our foreign currency contracts, life insurance policies with cash surrender values and certain nonqualified deferred compensation liabilities based on Level 2 inputs using quotations provided by major market news services, such as Bloomberg, and industry-standard models that consider various assumptions, including quoted forward prices, time value, volatility factors, contractual prices for the underlying instruments, and other relevant economic measures, all of which are observable in active markets. When appropriate, valuations are adjusted to reflect credit considerations, generally based on available market evidence.

The following tables present our assets and liabilities measured at fair value on a recurring basis:


	August 3, 2024
	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets
Level 1:
U.S. government securities(1)	$	—	$	—	$	—	$	—
Time Deposits(2)	11.1		—		—		11.1
Level 2:
Company-owned life insurance(3)	0.2		—		—		0.2
Total assets	$	11.3	$	—	$	—	$	11.3
Liabilities
Level 2:

Nonqualified deferred compensation(4)	0.1		—		—		0.1
Total liabilities	$	0.1	$	—	$	—	$	0.1


	July 29, 2023
	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets
Level 1:
U.S. government securities(1)	$	258.5	$	—	$	(0.4)	$	258.1
Time Deposits(2)	$	42.9	$	—	$	—	$	42.9
Level 2:

Company-owned life insurance(3)	0.4		—		—		0.4
Total assets	$	301.8	$	—	$	(0.4)	$	301.4
Liabilities
Level 2:
Foreign currency contracts(4)	$	6.4	$	—	$	—	$	6.4
Nonqualified deferred compensation(4)	0.4		—		—		0.4
Total liabilities	$	6.8	$	—	$	—	$	6.8


	February 3, 2024
	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value
Assets
Level 1:
U.S. government securities(1)	$	265.3	$	—	$	—	$	265.3
Time Deposits(2)	14.9		—		—		14.9
Level 2:

Company-owned life insurance(3)	0.5		—		—		0.5
Total assets	$	280.7	$	—	$	—	$	280.7
Liabilities
Level 2:

Nonqualified deferred compensation(4)	0.4		—		—		0.4
Total liabilities	$	0.4	$	—	$	—	$	0.4

_________________________________________________

(1) Recognized in cash and cash equivalents and marketable securities on our Condensed Consolidated Balance Sheets.

(2) Recognized in marketable securities on our Condensed Consolidated Balance Sheets.

(3) Recognized in other noncurrent assets on our Condensed Consolidated Balance Sheets.

(4) Recognized in accrued liabilities and other current liabilities on our Condensed Consolidated Balance Sheets.

Assets that are Measured at Fair Value on a Nonrecurring Basis

Assets that are measured at fair value on a nonrecurring basis relate primarily to property and equipment, operating lease right-of-use ("ROU") assets and other intangible assets, including digital assets, which are remeasured when the estimated fair value is below its carrying value. When we determine that impairment has occurred, the carrying value of the asset is reduced to its fair value. Fair value of digital assets held is based on Level 1 inputs, as described above, and impairment losses for digital assets cannot be recovered for any subsequent increase in fair value until the sale or disposal of the asset.

As of August 3, 2024, our government-guaranteed low interest French term loans due through October 2026 ("French Term Loans") had a carrying value of $23.4 million and a fair value of $26.9 million. The fair values of our French Term Loans were estimated based on a model that discounted future principal and interest payments at interest rates available to us at the end of the period for similar debt of the same maturity, which is a Level 2 input as defined by the fair value hierarchy.

The carrying value of our cash, restricted cash, net receivables, accounts payable and current portion of debt approximate their fair values due to their short-term maturities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Millions, $ in Millions	Aug. 03, 2024	Feb. 03, 2024	Jul. 29, 2023
Statement of Financial Position [Abstract]
Receivables, net of allowances	$ 4.4	$ 4.4	$ 2.2
Accumulated depreciation	$ 846.0	$ 851.2	$ 983.0
Class A common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Class A common stock, shares authorized (in shares)	1,000.0	1,000.0	1,000.0
Class A common stock, shares issued (in shares)	426.5	305.7	305.2
Class A common stock, shares outstanding (in shares)	426.5	305.7	305.2

Earnings Per Share (Tables)

6 Months Ended

Aug. 03, 2024

Earnings Per Share [Abstract]

Schedule of Reconciliation of Shares Used in Calculating Basic and Diluted Net Loss Per Common Share

The following table presents a reconciliation of shares used in calculating basic and diluted net loss per common share:


	Three Months Ended		Six Months Ended
	August 3, 2024	July 29, 2023	August 3, 2024	July 29, 2023
Weighted-average common shares outstanding	386.4	304.8	346.2	304.7
Dilutive effect of restricted stock awards	0.8	—	—	—
Weighted-average diluted common shares	387.2	304.8	346.2	304.7

Anti-dilutive shares:
Restricted stock units	1.9	4.0	2.7	4.0