OKLAHOMA CITY: Video game company GameStop reported lower-than-expected earnings on Tuesday (Wednesday in Manila), but showed progress in building e-commerce sales. Revenues fell 3.3 percent to $2.1 billionBoth the earnings and revenues lagged analyst expectations. The company, which has been building up its e-commerce business as the coronavirus pandemic has shuttered retail stores, said global e-commerce sales jumped 175 percent compared with the year-ago period. Digital sales now account for more than one-third of net sales, up from a 12-percent share in the year-ago period. As a further testament to the company’s following, the company’s official earnings conference call reached capacity and was unable to take additional listeners.

Source: Manila Times March 24, 2021 16:18 UTC