Editing GameStop (section)

====Turnaround efforts====
=====American division efforts=====
 [[File:14th St Union Sq W td (2019-10-28) 29.jpg|200px|thumb|A combined GameStop–ThinkGeek store in [[New York City]] in 2019]]
All GameStop stores in [[Puerto Rico]] were shut at the end of March 2016, citing increased rates of government taxes.<ref>{{cite news |last=Makuch |first=Eddie |date=January 11, 2016 |title=Gamestop Closing All Puerto Rico Stores Very Soon |website=[[GameSpot]] |url=https://www.gamespot.com/articles/gamestop-closing-all-puerto-rico-stores-very-soon/1100-6433702/ |url-status=live |archive-url=https://web.archive.org/web/20201108125104/https://www.gamespot.com/articles/gamestop-closing-all-puerto-rico-stores-very-soon/1100-6433702/ |archive-date=November 8, 2020}}</ref>

In July 2019, GameStop partnered with an outside design firm, [[R/GA]], to put forth plans to revamp stores to focus on [[competitive gaming]] and [[retrogaming]], and to introduce new ways for customers to try games before buying them.<ref>{{cite web|url=https://www.ign.com/articles/2019/07/16/gamestop-to-create-new-store-concept-offer-retro-gaming |title=GameStop to Create New Store Concept, Offer Retro Gaming|date=July 16, 2019|last=Wilds|first=John |publisher=IGN|website=www.ign.com|access-date=January 27, 2021|archive-date=November 8, 2020|archive-url= https://web.archive.org/web/20201108002911/https://www.ign.com/articles/2019/07/16/gamestop-to-create-new-store-concept-offer-retro-gaming |url-status=live}}</ref><ref>{{cite web|url=https://www.gamespot.com/articles/gamestop-is-testing-much-different-store-layouts-i/1100-6468468/ |title=GameStop Is Testing Much Different Store Layouts, Including Retro-Focused Ones|date=July 17, 2019|last=Makuch|first=Eddie |publisher=GameSpot|website=www.gamespot.com |access-date=January 27, 2021|archive-date=November 8, 2020|archive-url= https://web.archive.org/web/20201108002342/https://www.gamespot.com/articles/gamestop-is-testing-much-different-store-layouts-i/1100-6468468/ |url-status=live}}</ref> Each concept store is expected to be mutually exclusive.{{Citation needed|date=January 2021}}

[[File:GameStop interior 2019.jpg|200px|thumb|Interior of a store in 2019]]
A leaked email revealed on July 31, 2019, indicated that 50 employees, including district and regional managers,<ref>{{cite news | url=https://www.playstationlifestyle.net/2019/08/01/mass-gamestop-layoffs-underway-following-company-restructure/ | title=GameStop Hit With Massive Layoffs Following Company Restructure | first=JOSEPH | last=YADEN | work=[[PlayStation LifeStyle]] | archive-date=August 1, 2019 | archive-url=https://web.archive.org/web/20190801164338/https://www.playstationlifestyle.net/2019/08/01/mass-gamestop-layoffs-underway-following-company-restructure/ | url-status=live}}</ref> would be laid off as a result of reorganization efforts.<ref>{{cite web|url=https://techraptor.net/content/gamestop-reportedly-laying-off-over-50-employees-as-part-of-reorganization |title=GameStop Reportedly Laying Off Over 50 Employees As Part of Reorganization|first=John|last=Quilty |date=July 31, 2019|publisher=TechRaptor|access-date=January 27, 2021|archive-date=August 1, 2019| archive-url= https://web.archive.org/web/20190801193730/https://techraptor.net/content/gamestop-reportedly-laying-off-over-50-employees-as-part-of-reorganization | url-status=live}}</ref> In August 2019, GameStop laid off over 120 people, including about half of the staff of ''Game Informer'', as part of its "GameStop Reboot initiative".<ref>{{cite news | url=https://kotaku.com/gamestop-lays-off-over-100-people-including-nearly-hal-1837418024 | title=GameStop Lays Off Over 100 People, Including Nearly Half Of Game Informer's Staff | first=Jason | last=Schreier | work=[[Kotaku]] | date=August 20, 2019 | archive-date=August 20, 2019 | archive-url =https://web.archive.org/web/20190820212136/https://kotaku.com/gamestop-lays-off-over-100-people-including-nearly-hal-1837418024 | url-status=live}}</ref>

In August 2019, [[Michael Burry]]'s investment firm [[Scion Asset Management]] sent a letter to GameStop executives urging the company to engage in a $238 million [[stock buyback]]. The letter also revealed that Scion owned approximately 2,750,000 shares, or about 3.05% of GameStop. The stock price of GameStop, which had been in steady decline in share price since late January 2019, spiked roughly 20% after Burry revealed that he was buying the stock in an interview with ''[[Barron's (newspaper)|Barron's]]''. In the interview, Burry explained that both [[Sony]] and [[Microsoft]] would enter the next console generation with a physical disc drive and therefore likely extend the longevity of GameStop. He also noted that the company's balance sheet was in good condition.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20190819005633/en/Scion-Asset-Management-Urges-GameStop-Buy-238 | title=Scion Asset Management Urges GameStop to Buy Back $238 Million of Stock with Cash on Hand | date=August 19, 2019 | publisher=[[Business Wire]] | archive-date=August 28, 2019 | archive-url=https://web.archive.org/web/20190828190522/https://www.businesswire.com/news/home/20190819005633/en/Scion-Asset-Management-Urges-GameStop-Buy-238%3Fmod%3Darticle_inline | url-status=live }}</ref><ref>{{cite news | url=https://markets.businessinsider.com/news/stocks/gamestop-stock-price-spikes-big-short-michael-burry-goes-long-2019-8-1028467346 | title=GameStop soars after 'Big Short' investor Michael Burry says it still has big upside (GME) | date=August 22, 2019 | first=Ben | last=Wick | work=[[Business Insider]] | archive-date=August 22, 2019 | archive-url=https://web.archive.org/web/20190822175118/https://markets.businessinsider.com/news/stocks/gamestop-stock-price-spikes-big-short-michael-burry-goes-long-2019-8-1028467346 | url-status=live}}</ref> In December 2019, GameStop announced that it spent $178.6 million to buy 34.6 million shares, or 34% of the [[shares outstanding]], at an average price of $5.14 per share.<ref>{{cite press release |title=GameStop Reports Third Quarter Fiscal 2019 Results and Updates Fiscal 2019 Guidance |url=https://www.globenewswire.com/news-release/2019/12/10/1958906/0/en/GameStop-Reports-Third-Quarter-Fiscal-2019-Results-and-Updates-Fiscal-2019-Guidance.html | publisher=[[GlobeNewswire]] |archive-url= https://web.archive.org/web/20200104132356/https://www.globenewswire.com/news-release/2019/12/10/1958906/0/en/GameStop-Reports-Third-Quarter-Fiscal-2019-Results-and-Updates-Fiscal-2019-Guidance.html |archive-date=January 4, 2020 |date=December 10, 2019 |url-status=live}}</ref> In May 2020, Burry lowered his stake in GameStop.<ref>{{cite news|url=https://www.barrons.com/articles/gamestop-stock-big-short-investor-michael-burry-lowers-stake-51588800981 |first=Ed |last=Lin | work=[[Barron's (newspaper)|Barron's]] |date=May 7, 2020 |title='Big Short' Investor Michael Burry Lowers Stake in GameStop Stock |archive-date=January 25, 2021 |archive-url= https://web.archive.org/web/20210125235036/https://www.barrons.com/articles/gamestop-stock-big-short-investor-michael-burry-lowers-stake-51588800981 |url-status=live}}</ref>

After reporting that it had missed analysts' expectations during the 2nd quarter of the fiscal year 2019 ending August 2019, as reported in September 2019, GameStop announced that it was planning to close about 180–200 underperforming stores of the 5,700 it had worldwide in the short term, along with developing metrics to evaluate other potential closures over the next two years.<ref>{{cite news | url=https://www.gamesindustry.biz/articles/2019-09-10-gamestop-to-close-180-200-underperforming-stores-globally-this-year | title=GameStop to close 180-200 "underperforming" stores globally this year | first=Rebekah | last=Valentine | work=[[GamesIndustry.biz]] | date=September 10, 2019 | archive-date=September 11, 2019 | archive-url=https://web.archive.org/web/20190911202737/https://www.gamesindustry.biz/articles/2019-09-10-gamestop-to-close-180-200-underperforming-stores-globally-this-year | url-status=live}}</ref> In March 2020, four members of GameStop's board of directors – Dan DeMatteo, Gerald Szczepanski, Larry Zilavy, and Steve Koonin – stepped down and were replaced by [[Reggie Fils-Aimé]], Bill Simon and J.K. Symancyk as part of the company's effort to turn around the business.<ref>{{cite news | url=https://venturebeat.com/2020/03/09/reggie-fils-aime-gamestop/ | title=GameStop appoints Reggie Fils-Aimé to board of directors | first=Jeff | last=Grubb | work=[[Venture Beat]] | date=March 9, 2020 | archive-date=March 10, 2020 | archive-url=https://web.archive.org/web/20200310074030/https://venturebeat.com/2020/03/09/reggie-fils-aime-gamestop/ | url-status = live }}</ref>

On October 8, 2020, GameStop announced an agreement with Microsoft to migrate backend systems to [[Microsoft 365]] platforms including [[Microsoft Dynamics CRM|Dynamics 365]], also including in-store usage of [[Microsoft Surface]] products by employees.<ref>{{cite press release |url=https://news.microsoft.com/2020/10/08/gamestop-announces-multiyear-strategic-partnership-with-microsoft/ |title=GameStop announces multiyear strategic partnership with Microsoft |publisher=[[Microsoft]] |date=October 8, 2020}}</ref><ref>{{Cite web |last=Bary |first=Emily |title=GameStop stock surges after Microsoft partnership announcement |url=https://www.marketwatch.com/story/gamestop-stock-surges-after-microsoft-partnership-announcement-2020-10-08 |url-status=live |archive-url=https://web.archive.org/web/20201014192042/https://www.marketwatch.com/story/gamestop-stock-surges-after-microsoft-partnership-announcement-2020-10-08 |archive-date=October 14, 2020 |access-date=October 8, 2020 |website=MarketWatch |language=en-US}}</ref> It was later reported that this agreement would also include [[revenue sharing]] on all digital game purchases for [[Xbox Series X and S]] for each product sold by the retailer, although the exact percentage of this share was not disclosed.<ref>{{Cite web |last=Orland |first=Kyle |date=October 15, 2020 |title=Microsoft will give GameStop a share of Xbox's digital revenues |url=https://arstechnica.com/gaming/2020/10/microsoft-will-give-gamestop-a-share-of-xboxs-digital-revenues/ |url-status=live |archive-url=https://web.archive.org/web/20210119224605/https://arstechnica.com/gaming/2020/10/microsoft-will-give-gamestop-a-share-of-xboxs-digital-revenues/ |archive-date=January 19, 2021 |access-date=October 20, 2020 |website=Ars Technica |language=en-us}}</ref>

=====Australian division efforts=====
[[File:EB Carindale.jpg|300px|thumb|An EB Games and ZiNG Pop Culture 'Hybrid' store from GameStop's Australian division located in [[Westfield Carindale]], Brisbane in 2020]]
GameStop's Australian division has been focused on increasing higher-margin merchandise and opening more large format hybrid stores which include both an EB Games and Zing Pop Culture store in a single location. These locations have an expanded selection of merchandise based on both games and pop culture. ''[[The Sydney Morning Herald]]'' reported the diversification into merchandise through the establishment of the Zing Pop Culture brand in 2014 had been vital in keeping the company profitable. The newspaper reported the greater focus on merchandise allowed the company to tap into the lucrative, higher-margin merchandise market of t-shirts, figurines and bobbleheads. The newspaper noted former staff agreed that the Australian divisions' merchandise pivot has been key to the divisions survival in Australia's tough retail landscape. However, they also pointed to the pre-owned games segment as a major part of its success.<ref>{{cite web |last1=Walker |first1=Alex |title=EB Games Are Shutting Stores Across Australia [Update] |url=https://www.kotaku.com.au/2020/01/eb-games-stores-shutting-down-australia/ |archive-url=https://web.archive.org/web/20200109061711/https://www.kotaku.com.au/2020/01/eb-games-stores-shutting-down-australia/ |url-status=dead |archive-date=January 9, 2020 |website=Kotaku Australia |access-date=29 March 2022 |language=en-AU |date=8 January 2020}}</ref><ref>{{cite web |last1=Elmas |first1=Matthew |title=EB Games to shutter 19 stores as digital competition bites |url=https://www.smartcompany.com.au/industries/retail/eb-games-stores-shutting/ |website=SmartCompany |access-date=29 March 2022 |date=10 January 2020}}</ref><ref>{{cite web |last1=Powell |first1=Dominic |title='Mario cuts through everything': How EB Games survived retail's great battle |url=https://www.smh.com.au/business/companies/mario-cuts-through-everything-how-eb-games-survived-retail-s-great-battle-20210204-p56zge.html |website=The Sydney Morning Herald |access-date=29 March 2022 |language=en |date=5 February 2021}}</ref> GameStop's Australian division has been the only profitable segment of the global GameStop business for the 2020, 2021 and 2022 fiscal years. The company reported profits of US$9.4 million, US$52.2 million and US$30.6 million for each fiscal year respectively.