GameStop’s collectibles category generated $271 million in net sales in the fourth quarter, according to financial results released for the company's 2024 fiscal year Tuesday.
Up from $171 million in Q3, collectibles accounted for 21% of the company’s $1.283 billion in net sales for the quarter.
According to the earnings report, collectibles generated $718 million in net sales in GameStop’s 2024 fiscal year, which ended Feb. 1.
Overall, collectibles accounted for just under 19% of the company’s net sales in 2024, an increase from 14% in the prior year.
Though the company’s net sales in Q4 decreased from $1.794 billion in the prior year, net income for the quarter increased from $63.1 million to $131.3 million in 2024.
GameStop also reports $4.775 billion in cash, cash equivalents and marketable securities at the close of Q4.
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 company included trading card submissions in areas it can expand its retail business.
“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.”
The roughly $100 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.
Financial details for trading cards and card submissions weren’t immediately available.
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.
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.
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.
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.
Ben Burrows is a reporter and editor for cllct, the premier company for collectible culture.