2018 ANNUAL REPORT Letter To Our Shareholders
This pastst year proved to be a pivotal one for GameStop.Game experientiantial activities as we support gamers of all skill A year thatat underscored ourur commitment to creatincreating levels nationwnwide. shareholder valualue, began with a comprehensive review of Our exciting initiitiatives within the eSports space are strategic and financincial alternatives leadiading to the sale of our repepresentative of somesom of the many exciting initiatives Spring Mobile division,on, and ended withh tthe appointment that aare under developmopment and designed to improve of George Sherman, a retailret veteran, as CEO.CEO Under his our finanancial performancee in the future. In 2018, we leadership,dership, we will refine our strategic directiotion for the generated $$233 million in freefre cash flow and ended future andnd position the company to drive sustainablee ggrowth the year with $1.6$1 billion in cashh on the balance sheet and profitabilitybility for our shareholders. after paying $1577 millionm in dividendsnds to shareholders. With the significantficant value realized throthrough the sale off However, despite thehese achievements,ts, we fell short Spring Mobile, we enhanced our balance sheet,sh reduced of our operational goals ccoming into the yearye and are our leverage through the early retirement of $3$350 million committedmmitted to improving our performancep goingng forward of outsutstanding notes and increased flexibility with rerespect to deliverver solid returns for shashareholders. Reinfonforcing to futuree capital allocation opportunities.pportunities. Additionally, we our commitmenttment to this objective, in 2019 we announceced believe thatt wwe are now better positionedsitioned to renew our focus an operating profit improvement initiativeinitia to identify on our core globobal video game andd ccollectibles business efficienciese andother other opportunities opportunities in inour our operations to and drive shareholdder value. enhahance our financial performance in the future.
As we move forward,, wew will continue too demonstrate We contntinue our globall efforts to give back to the that our family of retailail brands — GameStopop, EB Games, commununities we serve by investing in unique corcorporate Micromania, ThinkGeGeek and Zing Pop CultureCu — are the sociacial responsibility programs that focus on using the preferred destintinations for all of ouour customers’ video powerp of gaming for good. This past year, ouro associates gaming, colleclectibles and entertainmnment needs. around the worldrld raised more than $4.2 millionm in financial
We aree committedc to ensuringring that GameStop contincontinues contributionsns and in-kind donations ththrough our GameStoStop to be an integral part of the video game industry. Just as Gives program and other charity fundraising activtivities, we have done in the past, we will continue to providep our supportingporting such philanthropicphilanthrop partners as Starlight passionate and loyalyal customers access to the best products Children’s Foundation in Australia,A Make-A-WA-Wish in the and customer service, today and into the future, especiallyy U.S., Canada, and throhroughout our Northorthern European as the videoeo game industry continuecontinues to evolve. We aare locations, the Childrdren’s Miracle Netwowork, Autism Speaks expandingng our presence in the eSports arena throughth and Activision’ss CCall of Duty Endowmwment. severaleral strategic partnerships with major eSpororts teams To all of ourur stakeholders, I wawant to thank you, on behalf and other organizations in tthe space, includingng the recently of all thehe GameStop associaciates around the world, for your announced GameStopp PerformanceP Centerer in Frisco, Texas. patienience and support durduring a significant time in our history We expect the GamemeStop Performancece Center to serve as as we begin to transfosform the company for the future. a training groundnd for gaming clinicss and become one of the Sincerely, premier publiblic headquarters where gamers can unite andan share theiheir passions for eSportsSports and celebrate their love for videovid games. We will collaborate with the bestbe in the indndustry to create and distribute original concontent to help amateur gamerss gain access to exclusive materials and Daniel A. DeMatteo Executive Chairman !"# $ %&
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K 8 . < 69 (".58-4 !-.+ 69 + 8#9." .:"1 :"1".+ 94 .=.".:. !"# . !-.+ .W ! 3 ( , ! *6 ! < $ D ! ! > 6 > . < .W ! 3 ( , ! *6 ! < $ D ! ! ; . < ..W ! 3 ( , ! *6 ! < $ D ! ! 3 K 6 . < .+W ; ( $ 6 > . < ! <*6 K + < .,W ( $ ; ! <*6 K + < .?W ( $ 3 K 6 ! <*6 K + < .@W ( $ 4 G $ ! <*6 K + < . $ . 3 M 4 ;;8 $ . &' " ! $ . *+/ 0Q,*+/ 0 &' ( .+ ! ! . * ' . ! . *+ $ / 0Q,*+/ 0 &' ( .+ ! ! . *' . &' " ! $ . *+/0 &' ( .+ < B ., ! ! ? *' . ! . *+ $ /0 &' ( .+ < B ., ! ! ? *' )# EA; ) 3 $ F EA; 4 ' &' $ ; EA; 4 ' &' ; $ 3& EA; 4 ' &' 3 ; $ ;A EA; 4 ' &' ; ; $ 8& EA; 4 ' &' 8 ; $ W 4 ' ( ! [THIS PAGE INTENTIONALLY LEFT BLANK] Corporate Information BO ECTORS EXECUTIVE OFFICERS Daniel A. DeMatteo Raul J. Fernandez Gerald R. Szczepanski George E. Sherman Executive Chairman Vice Chairman Former Chairman Chief Executive Officer GameStop Monumental Sports & Gadzooks Entertainment Robert A. Lloyd George E. Sherman Carrie W. Teffner Executive Vice President, Chief Executive Officer Thomas N. Kelly Jr. Interim Executive Chair Chief Operating Officer and GameStop Former Chief Operating ascena retail group, inc. Chief Financial Officer Officer Jerome L. Davis Nextel Corporation Kathy P. Vrabeck Daniel J. Kaufman Executive Vice President and Senior Client Partner Executive Vice President, Chief Revenue Officer Shane S. Kim Consumer Markets Chief Transformation Officer Metropolitan Washington Former Corporate Vice Korn Ferry Airports Authority President Microsoft Corporation Lawrence S. Zilavy Lizabeth Dunn LR Enterprises Chief Executive Officer Steven R. Koonin Management, LLC Pro4ma, Inc Chief Executive Officer The Atlanta Hawks SHAREHOLDER INFNFORMATION Corporate Office Transfer Agent and Registrar Officer Certifications 625 Westport Parkway Computershare The Company’s Chief Executive Grapevine, TX 76051 P.O. Box 30170 Officer has submitted to the New 817.424.2000 College Station, TX 77842-2170 York Stock Exchange the annual www.GameStop.com 800.522.6645 certification required by Section www.computershare.com 303A.12(a) of the NYSE Company Auditors Manual. Our Annual Report on Deloitte & Touche, LLP Legal Counsel Form 10-K filed with the SEC is Dallas, TX Pepper Hamilton, LLP included herein, excluding all Philadelphia, PA exhibits other than our Sarbanes- Annual Meeting Oxley Act Section 302 and 906 The Annual Meeting of Listed on the New York Stock certifications by the CEO and Shareholders will be held Exchange CFO. Copies of exhibits to our on Tuesday, June 25, 2019, Symbol: GME Annual Report on Form 10-K and at 1:00 p.m CT at the Hilton other corporate governance Hotel, 1400 Plaza Place, documents are available without Southlake, Texas 76092. charge upon request. 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