Gamestop’s CEO Ryan Cohen said the struggling video game retailer will focus on cutting costs and long-term profitability in an annual shareholder meeting Monday.
These must-have Insider Deal household items are at unbeatable prices!FILE - In this file photo, a GameStop sign is displayed above a store in Urbandale, Iowa, on Jan. 28, 2021. Gamestop's CEO Ryan Cohen promised to cut costs and focus on long-term profitability for the struggling video game retailer in an annual shareholder meeting Monday, June 17, 2024.
resulted in many eager investors being unable to log on to the livestream. A spokesperson for Computershare, the company hosting the webcast, pointed to “unprecedented demand.” That only appeared to fuel anticipation in what the Grapevine, Texas-based company's leadership had to say. Scores of people took to social media over the weekend and early Monday to post about the upcoming meeting, adding to the buzz.All eyes have been on whether Gamestop can make a comeback.
There’s a long way to go. Gamestop managed to narrow its losses in the first quarter, but its revenue fell as sales weakened for hardware and accessories, software and collectibles. Last week, GameStop also filed paperwork with securities regulators to sell up to 75 million shares of stock to raise proceeds of nearly $2.14 billion.
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