Today GameStop (GME) came out with their Q2 2022 earnings report and there was quite a lot of interesting tidbits of information that came along with it as always. One of the biggest and most notable places of growth was in the collectible merchandise aspect of GameStop's business, which grew a whopping 26% year-over-year.
The news of their 26% growth in collectible sales comes directly from GameStop's Q2 2022 earnings report. The company has always had a foot in the door when it came to carrying products like action figures, and statues of popular video game characters, but when they bought ThinkGeek back in 2015, the company really started to double down on carrying such items. Today when you walk into a GameStop store or take a look at their online shop it's easy to notice the impact that the collectible market has had on the company.
GameStop sales of collectibles went from Sales attributable to collectibles went from $177.2 million in 2021's second quarter to $223.2 million in Q2 2022. GME has no intention of slowing down when it comes to collectibles either and they plan to grow this segment of their business in the long-term as well.
While GameStop did see solid growth in their collectibles revenue, they didn't grow everywhere. In fact, GameStop also reported a loss of 35 cents per share. However, that still beat consensus estimates that predicted a loss of 38 cents per share. Still, results like a 26% growth in their collectibles revenues shows that the company may be pivoting in the right direction. Be sure to stick with Shacknews for all your latest GME updates!