GameStop says it is reopening “select” stores across the country as company insiders make new investments in the video game retailer’s stock.
The company announced on social media that “select” closed stores would begin reopening Sept. 11.
GameStop did not initially disclose a complete list of returning locations. A company spokesperson told FOX Business that “at least one” store — located in Brooklyn, Ohio — was part of the initial rollout.
The move comes after an extended period of store closures and cost-cutting. GameStop has shuttered hundreds of locations in recent years as it has sought to reduce expenses and reshape its retail operations.
SONY TO END PHYSICAL PLAYSTATION GAME DISCS FOR NEW RELEASES STARTING IN 2028
The reopenings also come as GameStop CEO Ryan Cohen purchased 1 million shares of Class A common stock on Sept. 10 at a weighted average price of about $20.38 per share, according to federal regulatory filings. The purchase was worth roughly $20.4 million.
GameStop board member Alain Attal also purchased 5,000 shares that day for approximately $100,000.
Meanwhile, GameStop’s sales mix has continued to shift away from traditional video game software and toward collectibles.
CLICK HERE TO GET FOX BUSINESS ON THE GO
Collectibles, including trading cards, accounted for 45.1% of GameStop’s net sales during the company’s most recent quarter, up from roughly 29% for fiscal 2025. Collectibles sales increased 57% from the same quarter a year earlier.
Read the full article here