GameStop, Lease the Runway,, and extra

GameStop (GME): The retailer missed on each the highest and backside traces as gross sales declined amid a gaming slowdown. Third-quarter internet gross sales of $1.19 billion had been down 8.5% from a yr in the past, pushed by a 19% drop in software program gross sales. GameStop reported losses of $94.7 million within the third quarter, its seventh quarterly loss in a row. Stock was $1.13 billion, in contrast with $1.14 billion a yr in the past. Shares rose as a lot as 4% in prolonged buying and selling on Wednesday.

Lease the Runway (RENT): The corporate raised its full-year income forecast, sending shares up as a lot as 22% in prolonged buying and selling. Lease the Runway sees income $293 million to $295 million, topping analyst’s estimate of $288.3 million. CEO Jennifer Hyman famous within the launch that the corporate’s restructuring plan was ‘considerably full’ and can concentrate on ‘considerably bettering money burn’ sooner or later. (AI): The AI software program supplier reported higher than anticipated third-quarter earnings and income and reaffirmed its full-year income forecast of $255 million to $270 million. Income for the quarter rose 7.1% from a yr in the past, pushed by a 26% bounce in subscription gross sales. Shares had been little-changed after hours.

The Duckhorn Portfolio (NAPA): Shares rose 3% in prolonged buying and selling after the winemaker’s fiscal first-quarter internet gross sales and revenue topped expectations. Income for the quarter was $108.2 million, up from $104.2 million a yr in the past. Web earnings was $19.8 million, versus $21.3 million a yr in the past.

Duckhorn additionally famous its CFO Lori Beaudoin will probably be stepping down within the spring of 2023 after greater than 13 years with the corporate.

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