GameStop Corp New (NYSE:GME) Q4 2019 Earnings Conference Call - Final Transcript

Mar 26, 2020 • 06:00 pm ET

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GameStop Corp New (NYSE:GME) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Welcome to GameStop's Fourth Quarter 2019 Earnings Call. This call is being recorded and will be made available. I would now like to turn the call over to Eric Cerny, Investor Relations.

Executive
Eric Cerny

Thank you. Welcome to GameStop's fourth quarter and fiscal 2019 earnings conference call. This call will include forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Any such statements should be considered in conjunction with the cautionary statements and the Safe Harbor statement in the earnings release and risk factors discussed in reports filed with the SEC. GameStop assumes no obligation to update any of these forward-looking statements or information. A reconciliation and other information regarding non-GAAP financial measures discussed on the call can be found in the earnings release issued earlier today as well as the investor section of our website. With me today are GameStop's Chief Executive Officer, George Sherman and Chief Financial Officer, Jim Bell. On today's call, George will share insights into our fourth quarter and fiscal 2019 performance and updates regarding GameStop's strategic framework for the future. Jim will then provide more detail on our financial results and expectations for fiscal 2020. Then, we'll open the call up to your questions. Now I would like to turn the call over to the company's Chief Executive Officer, George Sherman.

Executive
George Sherman

Thanks, Eric. Good afternoon everyone and thank you for joining us today on our fourth quarter and full year earnings call. Before I begin a review of our 2019 financial results, I'd like to update you on how we are navigating our business during the COVID-19 pandemic. As you are aware, the situation remains fluid with each day bringing new information. Our highest priority is on ensuring the health and safety of our associates and customers around the world. We have been steadfast in our adherence to CDC guided safety and local government orders for retailers in each of our communities. We have countrywide closures in Europe, primarily in Italy and France and where we have stores that are open, we have temporarily closed our storefronts moving to curbside pickup at stores to facilitate buy online and pickup in store orders and e-commerce deliveries only. As millions of consumers adapt to remote work, play, and learning, we're pleased to be able to serve their needs. In fact, we've seen an increase in store and online traffic over the past few weeks. We remain committed to continuing to meet those needs in a safe environment.

As for the impact on the new supply chain and manufacturing for the new consoles, we will continue to work with the console makers as the launch approaches, but as of now, we have no indication of any impact on the product launch or delivery date, which is expected in time for holiday 2020. In the near term, we continue to monitor inventory levels for specific categories that might be impacted by shipping or delivery delays, but as of now, any