GameStop’s Profits Are Surging, but It’s Not Video Games Keeping the Retailer
GameStop recently released its Q2 2026 earnings report, and shareholders and video game fans were shocked to see the retailer break its all-time Q2 income record. Since GameStop became publicly traded in 2002, it has…
GameStop recently released its Q2 2026 earnings report, and shareholders and video game fans were shocked to see the retailer break its all-time Q2 income record. Since GameStop became publicly traded in 2002, it has never had a higher Q2 operating income than the amount reached in 2026.
During this most recent quarter, GameStop reported an operating income of $160.2 million and a net income of $298.7 million. GameStop’s fiscal Q2 ended on Aug. 1, 2026, and compared to last year (2025), net income increased by over $130 million.
While you might think that video game or console sales were the driving force behind this massive spike in income, you wouldn’t even be in the same ballpark as the right answer. According to GameStop’s financials, collectibles is currently the retailer’s largest sales category. Collectibles sold at GameStop made up 45.1% of net sales during Q2 2026. This equates to $356.3 million in net sales for the quarter.
Comparatively, video game sales and pre-owned/refurbished sales, which include games, consoles, accessories, etc., made up the rest of GameStop’s sales total. Video game sales in Q2 ended at $263.2 million, while pre-owned/refurbished sales ended at $170.7 million.
Collectibles can be defined as any kind of real-world merchandise sold at GameStop. This includes the popular Pop! figures, action figures, trading cards, and official merchandise from video game franchises.
If you’ve managed to make your way to any GameStop in recent months or years, you’ve likely noticed that a large portion of the store floor is now dedicated to showcasing various collectibles. While you might long for the days of walking into GameStop to browse used video games, collectibles are hands down the number one source of revenue for the retailer in 2026.
In the modern age, physical video game sales can’t sustain a store like GameStop. Even GameStop CEO Ryan Cohen has said physical video game sales are “irrelevant” and that the retailer could explore more ways to expand into the digital marketplace. This includes becoming a destination for selling digital items in video games, such as cosmetics or enhancements.
Whether any of those plans come to fruition remains to be seen, but for now, GameStop is extremely healthy financially, and video game collectibles are the main reason.