Collectibles account for 21% of GameStop sales in Q4

GameStop’s collectibles category generated 1 million in net sales in the fourth quarter, according to financial results released for the company’s 2024 fiscal year Tuesday.Among GameStop’s recent efforts to push into the collectibles category, the company began buying and selling PSA-graded sports and trading cards last year.The roughly 0 million increase in collectibles sales from Q3 to Q4 arrives alongside the company’s collaboration with grading giant PSA, which started in October. Nat Turner, Chairman and CEO of PSA parent company Collectors, was appointed to GameStop’s Board of Directors in November.“We continue to explore ways to increase the size of our addressable market through new product and service offerings, including offerings in the graded collectibles category,” the company wrote in its annual report. “Expansion of these categories provides the company with margin accretive opportunities that can assist the company in achieving its profitability goals.”Up from 1 million in Q3, collectibles accounted for 21% of the company’s .283 billion in net sales for the quarter.Financial details for trading cards and card submissions weren’t immediately available.Though the company’s net sales in Q4 decreased from .794 billion in the prior year, net income for the quarter increased from .1 million to 1.3 million in 2024.The company included trading card submissions in areas it can expand its retail business.GameStop also announced last year plans to open “Retro” locations that would focus on selling refurbished consoles and games. It’s currently unclear how many locations have pivoted to the retro strategy since being announced in August.According to the earnings report, collectibles generated 8 million in net sales in GameStop’s 2024 fiscal year, which ended Feb. 1.According to third-party grading tracker GemRate, PSA was by far the most popular card grader in 2024 with more than 15.3 million items graded. CGC Cards finished in second place with more than 2.3 million items.GameStop also reports .775 billion in cash, cash equivalents and marketable securities at the close of Q4.Ben Burrows is a reporter and editor for cllct, the premier company for collectible culture.According to GameStop’s filings, the collectibles category is made up of “apparel, toys, trading cards, gadgets and other retail products for pop culture and technology enthusiasts.”The partnership with PSA allows collectors to drop off and pick up sports and trading card submissions at select GameStop locations. A recent social media post from GameStop reported that nearly 1 million cards had been submitted through the program since October.Overall, collectibles accounted for just under 19% of the company’s net sales in 2024, an increase from 14% in the prior year.