GameStop Corporation (GME) Q1 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to the GameStop first quarter 2022 earnings call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. Correction, there will not be a question and answer session following the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. It is now my pleasure to introduce your host, Matt Furlong, CEO. Thank you, Matt. You may begin. Thank you and good afternoon. We appreciate all of our stockholders' continued passion and support. The enthusiasm remains a differentiator and an extra motivator for all of us at GameStop. We don't take it for granted and never will. Before going over this past quarter's initiatives and results, I also want to once again thank our team for continuing to bring strong focus and intensity to our mission. Change is continuing to be embraced across our stores, fulfillment centers, and offices. A constant emphasis on the customer is taking hold up and down the organization. This will remain key as we pursue sustained sales growth, establish broader offerings in consumer electronics, and launch new products aligned to the long-term future of gaming. During Q1, we specifically focused on two main areas. continuing to rebuild and strengthen our commerce business after years of underinvestment, and pursuing growth opportunities in the cryptocurrency, NFT, and Web3 gaming verticals, all of which we expect to be increasingly relevant for gamers of the future. With respect to our commerce business, we kept working to pragmatically expand product selection, improve delivery speeds, and strengthen the in-store and online shopping experience. We also made additional investments i...