- GameStop Corp (NYSE:GME) looks to reward thousands of employees with stock and pay raises, returning focus to its bricks-and-mortar business, the Wall Street Journal reports.
- The videogame retailer, which had shifted last year to growing online sales, increased its focus to motivate and retain the employees at its over 3,000 locations in the U.S.
- GameStop plans to award stock to its U.S. store leaders and give raises to some senior store staff.
- Store leaders will receive up to $21,000 in stock, which will vest over three annual installments.
- The financial awards will start next month, CEO Matt Furlong said.
- GameStop has invested $45 million – $50 million in the new employee-compensation initiative.
- GameStop dedicated 2021 to revamping its e-commerce operations by leasing more fulfillment centers and adding a new customer-service facility in Florida.
- GameStop launched a marketplace for trading nonfungible tokens.
- GameStop clocked 7.9% net sales growth to $1.378 billion Q1, ahead of Street estimates.
- EPS loss of $(2.08) missed the consensus estimate.
- Price Action: GME shares traded 1.78% higher at $32.08 premarket on the last check Thursday.
- Photo via Wikimedia Commons
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