Greetings, and welcome to the GameStop First Quarter Fiscal 2021 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Eric Cerny, Investor Relations. Thank you, Mr. Cerny. You may begin.

Thank you, and welcome to GameStop's First Quarter Fiscal 2021 Earnings Conference Call. This call will include forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Any such statements should be considered in conjunction with the cautionary statements and the safe harbor statement in the earnings release and risk factors discussed in reports filed with the SEC. GameStop assumes no obligation to update any of these forward-looking statements or information. A reconciliation and other information regarding non-GAAP financial measures discussed on the call can be found in the earnings release issued earlier today as well as the Investors section of our website. Joining me today is GameStop's Chief Executive Officer, George Sherman. On today's call, George will discuss our business and strategic initiatives, followed by a review of the financial results. Please note that we will not be doing a Q&A session at the end of this call. Now I would like to turn the call over to the company's Chief Executive Officer, George Sherman.

Good afternoon, and thank you for joining our first quarter fiscal 2021 earnings call. GameStop is off to a strong start to the year from both a sales and operations perspective. First quarter sales grew 25% year-over-year, and we ended the period with $771 million in total cash on the balance sheet, an increase of more than $185 million compared to last year. Throughout the first quarter, we also took a number of steps that align with our previously stated priorities. These steps include: adding retail and technology talent to our senior leadership team by appointing a Chief Operating Officer, Chief Growth Officer and Chief Technology Officer. We also made a number of other senior hires across brand, merchandising, e-commerce, supply chain and fulfillment. Each of these new additions have proven backgrounds and experience from companies such as Amazon, Google and Chewy. Second, we further strengthened the company's balance sheet by raising more than $550 million in net proceeds from our April ATM program. We also eliminated our long-term debt with the voluntary early redemption of our 2023 senior notes. Third, we expanded our fulfillment network by adding a 700,000 square foot facility in York, Pennsylvania. This new distribution center, which is expected to be operational by the fourth quarter of this year, will enhance our order fulfillment capabilities on the East Coast. Lastly, we continue to expand our product offering by adding natural extensions such as PC gaming, computers, monitors, game tables and gaming TVs, just to name a few. We intend to continue taking steps to evolve the business and build a world-class technology infrastructure while simultaneously capitalizing on the emerging console cycle. Today, we also announced a new ATM offering for a prospectus filing to offer up to 5 million shares of our common stock. The company…

This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation, and have a wonderful evening.