GameStop (GME) Announces 2021 Strategic Initiatives

GameStop (NYSE: GME) is focused on transforming into a customer-obsessed technology company that delights gamers. The Board and management are taking the below steps in fiscal year 2021:

• Investing in technology capabilities, including by in-sourcing talent and revamping systems, and evaluating next-generation assets;
• Building a superior customer experience;
• Expanding product offerings;
• Modernizing U.S. fulfillment operations to improve speed of delivery and service;
• Establishing a U.S.-based customer care operation, and;
• Leveraging the Company’s digital assets, including Game Informer and PowerUp Rewards, to increase market share within the growing online gaming community.

2021 Outlook During 2021, the Company will focus on its transformation while also capitalizing on the emerging console cycle and navigating the COVID-19 pandemic. The Company is continuing to suspend guidance at this time. Further, as a result of prolonged pandemic related store closures which began in March 2020, which will impact the calculation of comparable store sales this year, the Company does not currently intend to report this metric in fiscal 2021. The Company believes total net sales is the more appropriate metric to evaluate the performance of the business at this time. As the Company continues to reposition during 2021, it will continue to evaluate the metrics that it believes will most effectively inform investors of the Company’s performance, development and outlook.

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