- When Keith Gill appeared on a YouTube video in the summer of 2020 to discuss GameStop, he argued that the company's future was far rosier than the market expected. Nearly four years later, he remains bullish, even if most of his key predictions have gone unfulfilled.
Texas-based GameStop, which holds its annual shareholder meeting on Thursday, did not respond to e-mail and telephone requests for comment. Gill could not be reached by email or phone.Gill originally forecast that GameStop, a retailer of new and used video games, consoles and collectibles, would grow revenues and earnings and embrace a transformative business strategy based on fostering a gamer community.
Gill also predicted that then-CEO George Sherman's "GameStop Reboot" plan would reinvent the company as a premier gaming hub. To support this, Gill pointed to the launch in fall of 2019 of a dozen concept stores that included interactive gaming spaces. GameStop CEO Ryan Cohen did not respond to requests for comment. Neither of its two most recent CEOs, George Sherman and Matt Furlong, responded to requests for comment made via business social media platform LinkedIn.
“I expect earnings to improve significantly,” from the second half of 2020 onward, Gill told his followers in July 2020. GameStop posted a net loss of $215 million for fiscal 2020, a loss of $381 million in fiscal 2021 and a loss of $313 million in 2022.Gill was similarly bullish on revenues back in 2020, awaiting the release of new consoles by major gaming companies. "You might get a big jump next year," he said in August that year.
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