FILE PHOTO: A GameStop store is photographed in Austin, TX, U.S., March 26, 2018. Picture taken on March 26, 2018. REUTERS/Mohammad Khursheed
(Reuters) – GameStop Corp reported a 25.7% fall in third-quarter sales on Tuesday, hit by lower console sales ahead of the new console launches in 2020, and cut its full-year profit forecast.
The company’s shares fell 15% in extended trading.
GameStop now sees its full-year earnings per share forecast in the range of 10 cents to 20 cents, from an earlier forecast of $1.15 to $1.30.
Net sales fell to $1.44 billion from $1.94 billion.
Reporting by Amal S in Bengaluru; Editing by Shailesh Kuber