GameStop Corp. (NYSE: GME) is a retailer of video games, consumer electronics, and gaming merchandise, primarily operating in brick-and-mortar locations in the U.S. and via e-commerce. The company reported its financial results for the fourth quarter and fiscal year ended February 1, 2025.

The company is currently in a decline, as evidenced by significant drops in sales revenue compared to the previous year. Net sales for the fourth quarter were $1.283 billion, down from $1.794 billion in the same period the previous year, representing a decrease of approximately 28.5%. For the fiscal year 2024, net sales totaled $3.823 billion, a decline of 27.5% from $5.273 billion in fiscal year 2023.

Despite the decline in sales, GameStop reported improved net income for the fourth quarter of $131.3 million, up from $63.1 million year-over-year. For the fiscal year, net income was also $131.3 million compared to $6.7 million in the previous year.

The company’s adjusted EBITDA for the fourth quarter rose to $96.5 million from $88.0 million for the same quarter last year. However, for the full year, adjusted EBITDA decreased to $36.1 million from $64.7 million in fiscal year 2023. Selling, general, and administrative (SG&A) expenses for the fourth quarter were $282.5 million, significantly lower than the $359.2 million reported in the prior year’s fourth quarter. For the fiscal year, SG&A expenses were $1.130 billion, down from $1.324 billion.

For the fourth quarter, the gross profit margin increased to 28.3% compared to 23.4% in the prior year’s quarter, although the yearly gross profit margin was somewhat stable at 29.1% in fiscal year 2024 versus 24.5% in fiscal year 2023.

GameStop concluded the quarter with cash, cash equivalents, and marketable securities amounting to $4.775 billion. The company also completed the divestiture of its Italian operations and initiated the wind-down of its store operations in Germany.

GameStop did not host a conference call this quarter, and further details are available in the company’s Form 10-K filing.