GameStop Corp. announced plans to sell its Canadian and French operations as part of a broader evaluation of its international assets. CEO Ryan Cohen revealed the decision in a post on X, stating, “High taxes, Liberalism, Socialism, Progressivism, Wokeness, and DEI included at no additional cost if you buy today!”
The company did not provide further details on the sale or comment on Cohen’s statement.
As of early 2024, GameStop operated 203 locations in Canada. Cohen, who became CEO in 2023, was already the board chair and the largest individual investor in the company. At the June shareholder meeting, Cohen highlighted plans to focus on cost-cutting measures and achieving long-term profitability by reducing its store network.
In the third quarter of 2024, GameStop reported $17.4 million in earnings, compared to a loss in the same period the previous year, though sales declined to $860.3 million.
The company gained widespread attention during the “meme stock” frenzy, where its share price surged as retail investors speculated on struggling brands.
Source: Swifteradio.com
