Business News

GameStop is taking Amazon executives to a new level

GameStop, a video game developer trying to pull itself together to become digital marketing time, Was also named as the newest and largest economist ever to work for Amazon, continuing to attack their ecommerce management team.

The company, whose shares were in the middle of a promotional campaign, said Wednesday that Matt Furlong would lead the company later this month.

Furlong was previously overseeing the Amazon business in Australia and was an expert advisor to the head of ecommerce business in North America.

GameStop has also nominated Mike Recupero, a 17-year-old veteran of Amazon, to be their chief financial officer.

A Texas retailer announced in April that current president George Sherman has said so get down By the end of July, another self-defense sector that seeks to boost its business in ecommerce is to reverse the temporary decline in trade.

Ryan Cohen, CEO of GameStop and co-founder of, was elected chairman of the company on Wednesday, after being asked to lead his digital career.

Cohen’s arrival on board in January helped to alleviate the interest among daytime retailers who run stocks on a regular basis.

Earlier this year, GameStop selected a number of other managers who had already settled in Amazon. Jenna Owens, former executive of Amazon and Google, has been appointed chief executive officer. It also brought in Matt Francis as their first professional senior and Elliott Wilke as their senior manager.

GameStop shares rose by 1,500% so far this year at the end of Wednesday, when meme stock mania returned a few weeks ago, looking set to peak in January and February.

Sales fell 12% on sales over the hours, however. In addition to the standoff, the company disclosed that it had received a request for documents from the Securities and Exchange Commission regarding “trade-related investigations into our security and securities by other companies”.

He said he wanted to work with the SEC and did not expect the application to affect the company.

In a separate statement, it stated: “We have not experienced any financial or operational deficit which may explain the price of inflation or trade volumes. [during the stock rally this year]. ”

GameStop was thrilled by its shareholding in April by raising $ 551m by selling 3.5m shares to help pay for ecommerce pulls.

It announced a new “market” offer of 5m shares on Wednesday, saying it would also use some of that money to spend on growth.

GameStop is the second part of the meme to sell in today’s markets. The AMC cinema machine has also taken one share at a recent price, announcing two selling stocks last week.

GameStop Wednesday’s announcement also included its latest results on news, showing annual sales rising 25% year-on-year to $ 1.28bn in the first three months of May. The jump showed how the previous quarter had been hit by a store closure due to a coronavirus outbreak. GameStop reported a loss of $ 66.8m a quarter, compared to a loss of $ 165.7m last year.

The company said what is happening in the current sector “continues to show”, with May sales up almost 27% last year.

Cohen said the company should avoid elaborating on its plans but told shareholders to “do the hard work”.

“We have a lot of work ahead of us and it will take time,” he said, according to a post on Reddit. “We are trying to do everything no one has ever done before, but we believe we are establishing what we have and we have a clear goal: to please customers and improve those who have shares for a long time.”

Source link

Related Articles

Leave a Reply

Back to top button