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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 raised $933 million by selling shares to cash in on a meme stock rally last month, when the stock doubled in value, and raised an additional $2.14 billion earlier this month.
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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 ...
Furthermore, 53% of major studios expect difficulties in handling their technical debt. 88% of developers questioned said they are looking into integrating new tools into their workflows due to the steep rise in game production expenses and complexity. [50]
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]
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 ...