How did GameStop's expenses evolve over the past three years?

GameStop's expenses have shown a decreasing trend in the past three years. Here's a detailed analysis:

1. **Selling, General, and Administrative (SG&A) Expenses**: SG&A expenses have significantly declined from $452.9 million in the year-ago quarter to $358.9 million in the recent quarter. This represents a 20.8% reduction in SG&A expenses.
2. **Net Sales and Gross Margin**: Despite a decrease in net sales, the company has seen an improvement in gross profit margin, which expanded by 100 basis points to 23.4%. This indicates that GameStop has been more efficient in managing its costs relative to its sales.
3. **Quarterly Variations**: GameStop's expenses have shown variability across different quarters. For instance, in Q3 2023, SG&A expenses were $296.5 million, which is lower than the $387.9 million reported in the same quarter of the previous year. This reduction in expenses has been a key factor in the company's financial turnaround efforts.

In summary, GameStop's expenses have evolved positively, with significant reductions in SG&A expenses and an improvement in gross profit margin, reflecting effective cost management and operational efficiency.