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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 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]
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 ...
[175] [176] A level designer interviewed by PC Gamer commented that "As a Junior who put blood, sweat, and tears into obtaining my first role in the industry, I am now back again going in circles looking for roles that are junior level (which is non-existent as every job posting I see is either Senior, Principal, or Lead)."
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.
The 81-year-old fabric and craft retailer filed for bankruptcy in March, falling victim to customers cutting back on spending, including on fabric, arts and supplies materials. Joann’s stock was ...
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.
As the economy emerged out of the Covid-19 pandemic, companies faced a laundry list of problems arising from high costs, supply shortages and growing competition. Here are 7 of the well-known ...