GameStop’s murky future may be getting brighter.
Following the retailer’s report of a third quarter loss of over $488 million in November last year, it seems like the company might be getting a much-needed helping hand with rumours of a buyout, expected to be completed by the end of February, 2019.
According to The Wall Street Journal (via MCV), two companies are currently vying over the high street store – Sycamore Partners, and Apollo Global Management. All three companies declined to comment when WSJ reached out to them.
Despite last year’s reported loss, sales for new hardware were up, and COO Rob Lloyd stated that overall, the company had experienced growth in the third quarter.
Lloyd credited software sales from high-selling game titles, like Red Dead Redemption 2 and Marvel’s Spider-Man, for much of this.
Red Dead Redemption 2 was certainly a boon for Rockstar, achieving the biggest opening weekend in entertainment history, selling $725 million in copies over the span of three days.