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GameStop shares fall after filing for securities sale, claims first quarter sales declined

Omar Marques | Light flare | Getty Images

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Actions of Stoppage of play fell 10% in premarket trading Friday after the video game retailer announced plans to sell titles and released preliminary results showing a decline in first-quarter sales.

The company said it now expects net sales of between $872 million and $892 million, down from $1.237 billion in the same quarter last year. The physical video game company is facing fierce competition from e-commerce-based rivals.

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