Entertainment retailer GameStop reported a 10% drop in net profit to $72.5m (£45.9m) for its first quarter ended April 28. As the company had previously warned, sales fell 12.2% to $2bn (£1.27bn) on the back of weak demand. The video games specialist said that sales of new hardware and software declined more than expected. Pre-owned sales also dipped slightly while digital sales rose 23%.

Mobile sales were $12m (£7.6m), which the retailer said puts it on target to reach its goal of $150m to $200m (£95m to £126.7m) in mobile sales by the end of this year.

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