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GameStop confirms possibility of sale

GameStop has confirmed that it is considering a sale, along with other financial and strategic alternatives.

“As our teams prepare for a busy and exciting holiday period, our board of directors, with the support of our financial and legal advisors, continues to conduct a comprehensive review of strategic and financial alternatives, including, but not limited to, a potential sale of the company,” said Dan DeMatteo, executive chairman of GameStop’s board of directors.

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The video game retailer doesn’t have plans to announce other developments unless it becomes appropriate, according to a company statement.

The announcement came amid a 2.4 percent decrease in sales and a comparable sales decrease of 0.5 percent during the second quarter of 2018. But the launch of Xbox One X resulted in new hardware sales increasing 20.1 percent.

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“Our second quarter results were in line with our expectations and highlighted by solid growth in new hardware, accessories and collectibles,” said Rob Lloyd, chief operating officer and chief financial officer. “The anticipation around the upcoming video games across several franchises is extraordinary and we remain well positioned to leverage our industry-leading position to drive growth in the second half.”

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