-
New game consoles fuel GameStop’s profit in first quarter
Despite posting increases in the last few quarters, GameStop was seeing shares drop because its numbers were falling short of analysts’ expectations. But thanks to growth in its mobile business and demand for new game consoles, the company started the year with better-than-expected profit that drove shares to rise 5%.
-
GameStop to close 120-130 stores; open 300-400 tech stores under new banners
Grapevine, Texas -- GameStop Corp. will close 120-130 of its 6,457 stores worldwide in 2014 and add 300 to 400 new tech stores under three different banners: Spring Mobile, Cricket and Simply Mac. The closures and openings are part of the company’s new “GameStop3.0” repositioning. The new strategy emphasizes mobile-gaming.
“The opportunities that have presented themselves we see as unique,” said GameStop CEO Paul Raines during an investor meeting last week.