Reported 8 months ago
Shares of GameStop fell after CEO Ryan Cohen announced plans to operate fewer stores with a focus on value-added items during the annual general shareholder meeting. Despite GameStop's $4 billion cash pile, details on its usage remain undisclosed. The company's profit margin of 36% was highlighted following recent filings, indicating strength in reselling used software and hardware. However, challenges persist due to competition in gaming consoles and declining demand for used software. GameStop's strategic plan to adapt to changing market dynamics is eagerly awaited by investors.
Source: YAHOO