GameStop recently named board members and released solid holiday sales figures.
The videogame retail company placed three of activist investor's RC Ventures nominees -- Alan Attal, Ryan Cohen and Jim Grube -- on the board. According to GameStop, the three executives have "deep expertise” in e-commerce, online marketing, finance and strategic planning.
Also, GameStop experienced a quadrupling in e-commerce sales during the nine-week holiday shopping season. E-commerce sales year to date edged past $1.35 billion, exceeding the company’s $1 billion target. Comparable-store sales climbed +4.8%.
According to the company’s statement, consumer demand far outpaced supply in the nine-week period with “unprecedented demand” for recently launched gaming consoles. The company believes these products will drive sales well into 2021 as console availability from our suppliers improves later in the year.