8-K
filed June 7, 2023, 7:59 PM ET
ticker GME
CIK 0001326380
leadership
confidence high
sentiment neutral
materiality 0.85
GameStop fires CEO Furlong; appoints Ryan Cohen Executive Chairman; Q1 loss narrows to $50.5M
GameStop Corp.
- CEO Matthew Furlong terminated June 5; Ryan Cohen appointed Executive Chairman immediately.
- Q1 net sales $1.237B (-10% YoY); net loss improved to $50.5M from $157.9M.
- SG&A reduced to 27.9% of sales from 32.8%; cash and securities $1.31B.
- Mark Robinson appointed General Manager (principal exec) with $200k salary + RSU grant.
- Board reduced to five; Alain Attal Lead Independent Director; SPAC committee dissolved.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
GameStop Corp. reported first quarter ended April 29, 2023 results: revenue $1.237 billion, net income Net loss was $50.5 million.
- Period
- first quarter ended April 29, 2023
- Revenue
- $1.237 billion
- Net income
- Net loss was $50.5 million
- Result
- reported results
Exact text from the filing
Net sales were $1.237 billion for the period, compared to $1.378 billion in the prior year's first quarter.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Matthew Furlong resigned as Director at GameStop Corp..
- Action
- resigned
- Role
- Director
Exact text from the filing
On June 5, 2023, Mr. Furlong resigned as a director of the Company, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ryan Cohen was appointed as Executive Chairman at GameStop Corp..
- Action
- appointed
- Role
- Executive Chairman
Exact text from the filing
the Board appointed Ryan Cohen as Executive Chairman of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Matthew Furlong was terminated as President and Chief Executive Officer at GameStop Corp..
- Action
- terminated
- Role
- President and Chief Executive Officer
Exact text from the filing
On June 5, 2023, the Board of Directors (the “ Board ”) of the Company terminated Matthew Furlong as President and Chief Executive Officer of the Company, effective immediately
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Mark H. Robinson was appointed as General Manager at GameStop Corp..
- Action
- appointed
- Role
- General Manager
Exact text from the filing
the Board appointed Mark H. Robinson as the Company’s General Manager, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Alain Attal was appointed as Lead Independent Director at GameStop Corp..
- Action
- appointed
- Role
- Lead Independent Director
Exact text from the filing
the Board appointed Ryan Cohen as Executive Chairman of the Company and Alain Attal as the Lead Independent Director of the Board.
View on SEC.gov
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