I like Gamestop and hope they could stick around. The employees can be socially challenging, but I’ve only had good experiences with prices and quality.
That said, Gamestop currently has no vision. How can they operate like this? The new ceo said they will be redefining their strategic direction due to the new industry trends, but they still have not outlined how.
I see cost reduction measures like share buybacks, store consolidation, headcount reduction. They sold Spring Mobile for $700M, but now it looks like they are trying to build another cell phone business, (presumably so they can sell it again for another several hundred additional millions??)
The fact that they don’t have any major announcements for refining their core game business and their loss of focus (getting back into cell phones) tells me they don’t have a clear vision going into the future.. That’s not good because the market has changed and they can’t keep doing the same thing and expect it to work.