Earnings Labs

GameStop Corp. (GME)

Q2 2021 Earnings Call· Wed, Sep 8, 2021

$25.16

-1.00%

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Transcript

Operator

Operator

Greetings, and welcome to GameStop's Second Quarter Fiscal 2021 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded and will be archived for 2 months on GameStop's Investor Relations website. 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 company's earnings release issued earlier today as well as the Investor section of the GameStop website. Please note that the company will not be hosting a Q&A session as part of today's call. Now I would like to turn the call over to the company's Chief Executive Officer, Matt Furlong.

Matthew Furlong

Analyst

Thank you. It's good to be with everyone today. I want to start by thanking our entire team for all of their hard work, given the pace at which the organization is changing. I've had the chance to meet a number of team members across our stores, fulfillment centers and home office, and I look forward to meeting more in the coming weeks and months. We appreciate how everyone is stepping up and embracing GameStop's new operating principles. Since you last heard from us in June, our refreshed Board of Directors and new management team have settled in. We now have unified leadership fully focused on 2 long-term goals: delighting customers and delivering value for stockholders. In addition to focusing on long-term opportunities, we took a number of steps over the past quarter to fortify the company's infrastructure and technology. We are focused on positioning GameStop to scale while obsessing over competitive pricing, expansive selection and fast shipping. Our actions included continuing to add technology talent across the organization, including individuals with experience in e-commerce, UI, UX, operations and supply chain. We also continued to expand our fulfillment network by adding a 530,000-square-foot facility in Reno, Nevada. This new facility, which is expected to be operational next year, will position us to further expand selection and expedite shipping. With this addition, the company's fulfillment network will span both coasts of the continental U.S. for the first time. Our new 700,000-square-foot facility in York, Pennsylvania also began shipping orders during the quarter. We grew our catalog by adding new products and leading brands across consumer electronics, collectibles, toys and more. We signed a lease on a new customer care facility in South Florida and started adding talent to that team as we continue to build out customer care operations in the…

Operator

Operator

This concludes today's conference call. Thank you for your participation.