GameStop decides to focus on brick-and-mortar locations, WSJ reports

In 2021, Ryan Cohen took control of GameStop with intentions to transform the videogame retailer into an e-commerce giant, Sarah Needleman and Dana Mattioli of The Wall Street Journal reports. E-commerce sales did not take off and Cohen left the company last year. Since then, GameStop has reversed its course and has begun to refocus on its 4,400 brick-and-mortar stores. The company also began slashing costs. It scrapped plans to build more warehouses to handle online orders, shut a new e-commerce customer service center down, and cut several hundred corporate jobs made by Cohen. On March 21, this cost-cutting allowed GameStop to record its first profit in two years, but its revenue declined by 1%. Reference Link