(GameStop) GameStop reported net sales of $1.378 billion in the first quarter of 2022, higher than sales of $1.277 billion in the comparable quarter of 2021.
Despite a sales jump, GameStop reported lower earnings. The gaming retailer booked a net loss of $157.9 million, higher than a loss of $66.8 million in the prior year. The diluted loss per share was $2.08, compared to loss per share of $1.01 in the prior year.
GameStop said that it closed the quarter with an inventory of $917.6 million, higher than $570.9 million in the prior year.
The gaming retailer confirmed its NFT marketplace, saying that it took steps to support the launch of its digital asset wallet for crypto transactions once the platform launches in the second quarter.
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