The following discussion should be read in conjunction with the information
contained in our consolidated financial statements, including the notes thereto
set forth in Part I, Item 1 of this Form 10-Q. Statements regarding future
economic performance, management's plans and objectives, and any statements
concerning assumptions related to the foregoing contained in Management's
Discussion and Analysis of Financial Condition and Results of Operations
constitute forward-looking statements. These statements are only predictions
based on current expectations and assumptions and involve known and unknown
risks, uncertainties and other factors that may cause our or our industry's
actual results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or
achievements expressed or implied by such forward-looking statements. All
forward-looking statements included in this Form 10-Q are based upon information
available to us as of the filing date of this Form 10-Q, and we undertake no
obligation to update or revise any of these forward-looking statements for any
reason, whether as a result of new information, future events or otherwise after
the date of this Form 10-Q, except as required by law. You should not place
undue reliance on these forward-looking statements. The forward-looking
statements involve a number of risks and uncertainties. Although we believe that
the expectations reflected in our forward-looking statements are reasonable, we
cannot guarantee future results, levels of activity, performance or
achievements. Certain factors, which may cause actual results to vary materially
from these forward-looking statements, accompany such statements and are
discussed in our Annual Report on Form 10-K for the year ended
OVERVIEW
We operate our business in four geographic segments:
BUSINESS PRIORITIES
We are taking steps that include:
•Increasing the size of our addressable market by offering vast product selection and growing our product catalog across PC gaming, collectibles, consumer electronics, toys, augmented reality, virtual reality, blockchain technology, and other categories that represent the natural extensions of our business;
•Expanding fulfillment operations to improve speed of delivery and service to our customers;
•Building a superior customer experience, including by establishing a
•Strengthening technology capabilities, including by investing in new systems, modernized ecommerce assets and an expanded, experienced talent base.
In
We believe these future transformation efforts are an important aspect of our continued business to enable long-term value creation for our shareholders. Accordingly, we prioritize long-term revenue growth and market leadership over short-term margins. The Company will continue to invest in growth initiatives, while continuing to prioritize maintaining a strong balance sheet. Connected to our transformation efforts, we have incurred and may continue to incur severance, store closure costs and expenses for consultants and advisors. See "Consolidated Results of Operations-Selling, General and Administrative Expenses" for additional information.
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