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A GameStop store in 2014. GameStop, an American chain of brick-and-mortar video game stores, had struggled in the years leading up to the short squeeze due to competition from digital distribution services, as well as the economic effects of the COVID-19 pandemic, which reduced the number of people who shopped in-person.
GameStop’s cash grab came right before the company reported preliminary financial results this morning, where it disclosed that first-quarter sales were down almost 20% year over year and it has ...
GameStop is making significant changes to its workforce, including laying off staff and investing in store managers and employees, according to an internal memo and a source familiar with the matter.
GameStop's first quarter came in worse than Wall Street had hoped, with revenue of $1.24 billion coming in short of analysts expectations for $1.34 billion. Shares of GameStop fell nearly 20% at ...
The small guys won, at least for a while, driving shares of GameStop up more than 1,000% in 2021, and other meme stocks as well. The struggling movie theater chain AMC jumped 2,300% in the same year. But some meme stocks including GameStop and AMC have been climbing higher again, and rapidly.
GameStop's Australian subsidiary EB Games Australia was the only arm of the global GameStop business not to report huge COVID-related losses, with sales instead soaring by 30 per cent. In Australia COVID-19 lockdowns were managed by the Australian Federal Government National Cabinet which largely permitted retail stores to remain open with ...
Until it drew the interest of Redditors on a discussion board called r/WallStreetBets, GameStop was dying a slow death along with brick-and-mortar shopping malls, where the largest video game and ...
GameStop announced plans on September 10, 2019, to close between 180 and 200 underperforming stores by the end of the fiscal year. [137] GameStop has been affected by a shift in consumer purchasing habits of games, as makers have made it easier to purchase titles online for download, often through consoles, requiring no physical disc. [138]