GameStop CEO Ryan Cohen Offers To Sell Locations In France And Canada With "Wokeness And DEI Included At No Additional Cost"
GameStop CEO Ryan Cohen, who is also the founder of Chewy, offered to sell off parts of the company in Canada and France and that it comes with “wokeness and DEI included at no additional cost.”
Cohen wrote on X, “Email M&A@gamestop.com if you’re interested in buying GameStop Canada or Micromania France. High taxes, Liberalism, Socialism, Progressivism, Wokeness and DEI included at no additional cost if you buy today!”
Following Cohen’s post, GameStop confirmed it was indeed attempting to sell its international assets in France and Canada.
A press release stated, “GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that as part of its evaluation of its international assets, the Company intends to pursue a sale of its operations in France and Canada.”
According to Fortune the company had 203 stores in Canada and 332 locations in France based on a 2024 SEC filing.
In FY 2024, the company reported declining net sales compared to the previous year’s quarter. In quarter one it noted that net sales only came in at $882 million compared to $1.237 billion in 2023.
For the second quarter it only had net sales of $798 million compared to $1.164 billion in 2023.
In its most recent third quarter report in December net sales only came in at $860 million compared to $1.078 billion in 2023.
While sales are down, the company was able to reduce costs. In the fist quarter costs were down to $295.1 million compared to $345.7 million in 2023.
Similarly, in the second quarter costs were cut to $270.8 million compared to $322.5 million in 2023.
The third quarter followed that trend with expenses being $282 million compared to $296.5 million last year.
What do you make of GameStop wanting to sell its locations in Canada and France?
If GameStop wants to fix itself then embrace the Game Culture and remove all Wokness.
Sell QUALITY Figures of Game Characters that are Hot. Sell QUALITY shirts of Game Culture and Memes. Sell QUALITY Cosplay Material and maybe "affordable" Cosplay Sets for beginners. Lastly continue to sell Games physically and also double down into Retro Games.
That's what I would do to keep this company going......
Ryan receives no salary, is trimming costs and turning this company into a rocket ship. Candy con, pro credit card, PSA partnership- I can’t wait to see what RC and Larry add to the list