May 19, 2024
Finance

Why GameStop won’t go bankrupt like Bed Bath & Beyond

As May’s meme stock trade loses steam, could GameStop (GME) follow a similar fate to meme kinsman Bed Bath & Beyond? After being acquired by Overstock.com in 2023, the company was rebranded as Beyond (BYON). Wedbush Equity Research Managing Director Michael Pachter comments on what sets the video game store chain apart from a traditional

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Finance

GameStop faces ‘unsustainable’ sales decline, cuts jobs to control costs

By Priyanka G and Harshita Mary Varghese (Reuters) -Videogame retailer GameStop said on Tuesday it had cut an unspecified number of jobs to reduce costs and reported lower fourth-quarter revenue amid rising competition from e-commerce firms and weak consumer spending in an uncertain economy. Shares of the Grapevine, Texas-based company tumbled 16% in extended trade.

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