Shares of GameStop fell 16 percent after the video game retailer announced that sales fell 27.5 percent during the holiday season. “We expected a challenging sales environment for the holiday season as our customers continue to delay purchases ahead of anticipated console launches in late 2020,” said GameStop CEO George Sherman. “However, the accelerated decline in new hardware and software sales coming out of Black Friday and throughout the month of December was well below our expectations, reflective of overall industry trends.”