GameStop is closing hundreds more stores while its CEO could bag billions. The retail chain is shuttering a reported four hundred ten locations across the United States. This follows nearly six hundred closures last fiscal year, as confirmed in the company's annual filing. Headquarters in Grapevine, Texas, calls this a portfolio optimization review based on store performance.
Employees face layoffs shortly after a massive executive pay plan emerged. CEO Ryan Cohen stands to gain up to thirty-five billion dollars in stock options. The catch requires GameStop's market value to hit one hundred billion dollars. Current valuation sits under ten billion, making the full bonus seem improbable.
The deal includes nine separate vesting tiers with progressively higher targets. The first tier requires a twenty billion dollar market cap and two billion in earnings. Past stock surges during a short squeeze only reached a fraction of the current goal. The shift toward digital game sales further complicates such extreme growth prospects.
International operations are also shrinking through sales and closures. The company exited several European markets and plans to sell its Canadian branch. A proposal to close thirty-eight stores in New Zealand remains under consideration. These moves highlight a broader restructuring beyond the domestic store reductions.
Employees face layoffs shortly after a massive executive pay plan emerged. CEO Ryan Cohen stands to gain up to thirty-five billion dollars in stock options. The catch requires GameStop's market value to hit one hundred billion dollars. Current valuation sits under ten billion, making the full bonus seem improbable.
The deal includes nine separate vesting tiers with progressively higher targets. The first tier requires a twenty billion dollar market cap and two billion in earnings. Past stock surges during a short squeeze only reached a fraction of the current goal. The shift toward digital game sales further complicates such extreme growth prospects.
International operations are also shrinking through sales and closures. The company exited several European markets and plans to sell its Canadian branch. A proposal to close thirty-eight stores in New Zealand remains under consideration. These moves highlight a broader restructuring beyond the domestic store reductions.
