GameStop disclosed USD41.1 million of redemptions in the six months ended August 1 from gift cards already outstanding at January 31. The comparable opening-card cohort generated USD28.8 million of redemptions in the six months ended August 2, 2025.
GameStop redemption of opening gift-card cohorts
Gift cards redeemed during each half-year that were already outstanding at the fiscal year opening.
USD million
Tap or hover for details. All values are also available in the data table.
Source
2025 bar covers cards outstanding at February 1, 2025; 2026 bar covers cards outstanding at January 31, 2026. Excludes cards issued later in each half-year. Not total gift-card sales, total redemptions or breakage.
Show data tableHide data table
| Category | Opening-cohort gift-card redemptions |
|---|---|
| Six months ended August 2, 2025 | 28.8 USD million |
| Six months ended August 1, 2026 | 41.1 USD million |
The figures appear in the retailer's September 9 quarterly filing. Its general earnings release a day earlier did not contain this specific gift-card disclosure.
The distinction between cohorts matters. These amounts cover cards present at each fiscal year's beginning, rather than all cards redeemed during the half-year. They are neither new gift-card sales nor a reported breakage figure.
GameStop's wider contract-liability tables combine several obligations, including gift cards, trade-in credits, reservation deposits, loyalty points, warranties and subscriptions. Those aggregate totals therefore cannot establish the company's standalone gift-card balance or total card issuance.
The filing explains that customer obligations are generally satisfied when shoppers redeem balances for products, and that unredeemed gift cards are subject to estimates based on historical redemption patterns. The new numerical disclosure provides a specific view of older-card redemption without implying that all outstanding cards were redeemed or that September itself produced the reported activity.
In this article
Maya Bennett
Maya Bennett covers customer loyalty, employee rewards and incentive programmes for Gift Card News.