(Reuters) -Videogame The Gamesop retailer reported on Tuesday a drop in quarterly income while more and more customers have moved away from its main brick and mortar stores in favor of digital games downloads.
The shares of the company based in Grapevin, Texas, fell by almost 4% in prolonged exchanges.
GameStop, which was formerly at the heart of the “same stock” commercial frenzy, has long had trouble adapting to the rapidly evolving game industry while consumer preferences pass from physical game sales to digital downloads, game streaming and online purchases.
The turnover of the company’s first quarter fell from 17% to $ 732.4 million, compared to $ 881.8 million a year ago.
(Report by Harshita Mary Varghese in Bengaluru; edition by Pooja Desai)
