GameStop looking to sell Canadian and French operations

GameStop looking to sell

Photo: The Canadian Press

Customers browse products at a Game Stop store next to a sign advertising 'save the tax' in Montreal on December 14, 2024. THE CANADIAN PRESS/Graham Hughes

GameStop Corp. says it intends to pursue a sale of its Canadian and French operations.

The video game retailers says in a press release that the move is part of an evaluation of its international assets.

GameStop did not provide any further detail on the decision.

CEO Ryan Cohen posted to X earlier in the day that the two business arms were for sale, adding: "High taxes, Liberalism, Socialism, Progressivism, Wokeness and DEI included at no additional cost if you buy today!"

GameStop did not immediately respond to a request for comment on the sales and Cohen's post.

As of about a year ago, GameStop had 203 locations in Canada.

Cohen has been CEO of the company since 2023. At the time, he was already the board chair and the company's largest individual investor.

At the company's annual shareholder meeting last June, Cohen said GameStop was going to focus on cutting costs and long-term profitability, which would involve a smaller store network.

The company earned US$17.4 million in its third quarter, compared with a loss during the same quarter a year earlier. Its sales declined to US$860.3 million.

GameStop was one of the companies at the centre of the "meme stock" craze on Wall Street, which saw struggling brands' share prices soar as retail investors made risky bets.