GameStop Is Cash Rich but Growth Poor
Investors weren't expecting positive operating news from GameStop's (NYSE: GME) second-quarter earnings announcement. The specialty retailer is being pinched by reduced customer traffic due to the pandemic, and by slumping demand in anticipation of the release of next-generation gaming consoles.
Wednesday's earnings report didn't show much progress in the chain's attempts to grapple with those challenges. But GameStop still managed to improve its cash standing while reducing its financial risk heading into the holiday shopping season.
Let's take a closer look.
Source Fool.com
