GameStop Shuttering Canadian And French Locations, Citing “High Taxes, Liberalism, Wokeness And DEI”
GameStop Corp. announced last week it will divest its Canadian and French operations, citing political correctness in both regions as part of a broader review of its international assets.
CEO Ryan Cohen criticized the “sociopolitical climates” of both countries and took to Twitter (“X”) to invite buyers, adding: “High taxes, Liberalism, Socialism, Progressivism, Wokeness and DEI included at no additional cost if you buy today!”
GameStop’s decision to exit Canada and France aligns with CEO Ryan Cohen’s strategy to streamline operations, cut costs, and boost long-term profitability. Since taking over in 2023, Cohen has focused on downsizing the company’s physical store presence, acknowledging the decline of physical game sales, much like the fate of VHS retailers such as Blockbuster, according to Western Standard.
Before the announcement, GameStop operated 203 stores in Canada and 647 across Europe.
The company’s financial performance remains under scrutiny. In its third quarter, it reported a $17.4 million net income, reversing a prior-year loss, but sales fell to $860.3 million, reflecting ongoing retail challenges.
Cohen’s remarks also echo a growing sentiment among business leaders who see progressive policies and DEI initiatives as harmful to corporate efficiency and shareholder value.
The Western Standard report says that Canada accounted for about 5% of GameStop’s revenue ($46.3 million), while Europe contributed around 20% ($173 million). The company has not disclosed the potential value of these operations or its asking price.
GameStop gained notoriety in early 2021 during the meme stock frenzy, when Reddit-driven retail investors sent its stock soaring past $500 per share, at one point doubling within 90 minutes.
Tyler Durden Mon, 02/24/2025 – 04:15
Source: https://freedombunker.com/2025/02/24/gamestop-shuttering-canadian-and-french-locations-citing-high-taxes-liberalism-wokeness-and-dei/
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