GameStop Corp. is looking to sell its Canadian and French operations as it evaluates its international assets, the video game retailer said in a Tuesday news release.
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 provide further details on the decision, nor did it immediately respond to a request for comment on the sales and Cohen’s post.
As of early 2024, GameStop had 203 locations in Canada. Cohen became CEO of the company in 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 $17.4 million US in its third quarter, compared with a loss during the same quarter a year earlier. Its sales declined to $860.3 million US.
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.
