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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 shares were down 11.6% at $25.38 on Monday afternoon after the annual general shareholder meeting, which lasted about 20 minutes. ... the stock influencer known as Roaring Kitty who ...
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]
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 ...
America’s largest party supplier filed for bankruptcy in 2023, hurt by big-box retailer competition, rising costs during the pandemic — and a helium shortage. People shop in a Party City store ...
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 ...
Beginning in 2023 and continuing into 2024, the video game industry has experienced mass layoffs.Over 10,500 jobs were lost in 2023, and an additional 14,600 jobs were lost in 2024.