GameStop hopes the Amazon pair will aid in its much anticipated digital turnaround. GameStop also said that Mike Recupero, who most recently was CFO of Amazon's North American consumer business, will begin as chief financial officer on July 12. Professional investors had sold much of GameStop's stock "short," essentially making bets that would profit if its price were to fall. They were skeptical GameStop had a bright future given the migration of video-game sales toward online channels and away from GameStop's stores. GameStop didn't provide an earnings forecast and it said it believes sales growth is the best way to measure its performance.

Source: New Zealand Herald June 10, 2021 04:18 UTC