GameStop to reopen select stores as insiders boost stock holdings

GameStop revealed plans to restart operations at a select set of stores across the United States, with the first locations opening on Sept. 11. The company has not yet disclosed the complete roster of returning outlets, but a spokesperson confirmed that a store in Brooklyn, Ohio, will be among the initial sites. This move comes after years of shuttering hundreds of stores to reduce expenses and reshape its retail model.

At the same time, CEO Ryan Cohen acquired 1 million shares of Class A common stock on Sept. 10 at an average price of about $20.38 per share, a purchase valued at roughly $20.4 million. Board member Alain Attal also bought 5,000 shares that day for around $100,000. Meanwhile, GameStop’s product mix continues to shift toward collectibles, which now represent a substantially larger portion of net sales compared with previous periods.