GameStop CEO: Will focus on profitability, avoid extreme stock price fluctuations due to "hype"

According to Bloomberg, GameStop CEO Ryan Cohen stated at Monday's annual shareholder meeting that he is focused on making the troubled video game retailer profitable and plans to avoid extreme stock price volatility due to "hype". Cohen emphasized that revenue without profits and future cash flow prospects is meaningless for shareholders, and plans to reduce the store network while expanding the range of high-value goods. Although Cohen has been committed in recent years to transforming GameStop from a physical store into a digital one, and has tried to venture into the NFT field, analysts are pessimistic about its prospects. GameStop's software revenue fell 30% year-on-year in the first quarter, and there was also a change in store merchandise structure towards toy sales rather than latest games. As a result of this impact, GameStop has closed several stores and distribution centers, as well as laid off employees.