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A GameStop store in Brooklyn, New York on January 28, 2021.
Spencer Platt / Getty Images
GameStop’s
The fourth quarter fiscal earnings report is expected after market close on Tuesday. Data from Placer.ai indicates that store visitor numbers were broadly stable in January, but have recovered in recent weeks.
Placer.ai tracked the number of visitors and noted that GameStop’s weekly visits (ticker: GME) in the week of December 28 were down about 18% year-on-year. the next four weeks.
The retailer has seen improved trends after the week that started on Feb. 15, when the number of visitors dropped 26% year-on-year. Weekly visits only decreased by 3.9% during the week beginning March 8. The company notes that this is the smallest year-over-year gap for GameStop in months.
“GameStop has returned to the visit levels found in early January and appears to be on a strong recovery path towards spring,” Ethan Chernofsky, vice president of marketing at Placer.ai, wrote in a post.
While a reduction in Covid-19 restrictions in some states, coupled with less severe weather, could be the key factor for improved visits, Chernofsky notes that the brand could also receive a boost from renewed attention from the recent GameStop stock saga.
Wall Street’s consensus estimate calls for revenue growth of 4.7% year-over-year during the fiscal fourth quarter, which ended in January, according to FactSet. The company announced on January 11 that sales at the same store were up 4.8% during the nine-week holiday period, which ended January 2. Still, ecommerce sales were up 309%, meaning the number of visitors isn’t getting the full result. image.
The Placer.ai team notes that AMC Theaters also saw a recovery from a year-over-year decline of 79.2% in the week of February 15 to a year-over-year decline of 47.9% in the week of March 8.
AMC Entertainment Holdings
inventory (AMC) is up 489% so far, while GameStop’s inventory is up 932%.
Write to Connor Smith at [email protected]