GameStop Confirms Exploratory Discussions with Third Parties
June 19 2018 - 8:00AM
GameStop Corp. (NYSE:GME), today confirmed it is
in exploratory discussions with third parties regarding a potential
transaction. There can be no assurance any agreement will
result from these discussions. GameStop does not intend to make any
additional comments regarding these discussions unless and until it
is appropriate to do so.
About GameStop GameStop Corp., a Fortune
500 company headquartered in Grapevine, Texas, is a global,
multichannel video game, consumer electronics and wireless services
retailer. GameStop operates over 7,200 stores across 14
countries. The company's consumer product network also
includes www.gamestop.com; Game Informer® magazine, the
world's leading print and digital video game publication; and
ThinkGeek, www.thinkgeek.com, the premier retailer for the
global geek community featuring exclusive and unique video game and
pop culture products. Our Technology Brands segment includes over
1,300 Spring Mobile AT&T and Simply Mac stores. Spring
Mobile, www.springmobile.com, sells all of AT&T’s products
and services, including DIRECTV, devices and related accessories in
select markets in the U.S. Simply Mac, www.simplymac.com,
sells the full line of Apple products, including laptops,
tablets, and smartphones and offers Apple certified
warranty and repair services.
General information about GameStop Corp. can be
obtained at the company’s corporate website. Follow
@GameStop and @GameStopCorp on Twitter and
find GameStop on Facebook at www.facebook.com/GameStop.
Safe HarborThis press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are based
upon management’s current beliefs, views, estimates and
expectations, including as to the Company’s industry, business
strategy, goals and expectations concerning its market position,
future operations, margins, profitability, capital expenditures,
liquidity and capital resources and other financial and operating
information. Such statements include without limitation those about
the Company’s outlook for fiscal 2018, future financial and
operating results, projections, expectations and other statements
that are not historical facts. Forward-looking statements are
subject to significant risks and uncertainties and actual results
may differ materially from those reflected or described in the
forward-looking statements. The following factors, among others,
could cause actual results to differ from those reflected or
described in the forward-looking statements: our inability to
obtain sufficient quantities of product to meet consumer demand;
the timing of release and consumer demand for new and pre-owned
products; our ability to continue to expand, and successfully open
and operate new stores for our collectibles and technology brands
businesses; risks associated with achievement of anticipated
financial and operating results from acquisitions; our ability to
sustain and grow our console digital video game sales; the impact
of goodwill and intangible asset impairments; cost reduction
initiatives, including store closing costs; risks related to
changes in, and our continued retention of, executive officers and
other key personnel; changes in consumer preferences and economic
conditions; increased operating costs, including wages; cyber
security events and related costs; risks associated with
international operations; changes to our wireless industry
partnerships and operations; increased competition and changing
technology in the video game industry; changes in domestic or
foreign laws and regulations that reduce consumer demand for, or
increase prices of, our products or otherwise adversely affect our
business; our effective tax rate and the factors affecting our
effective tax rate, including changes in international, federal or
state tax, trade and other laws and regulations; the costs and
outcomes of legal proceedings and tax audits. Additional factors
that could cause our results to differ materially from those
reflected or described in the forward-looking statements can be
found in GameStop's Annual on Form 10-K for the fiscal
year ended February 3, 2018 filed with the SEC and available at the
SEC’s Internet site at http://www.sec.gov or
http://investor.GameStop.com. Forward-looking statements contained
in this press release speak only as of the date of this release.
The Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by any
applicable securities laws.
ContactJoey MooringSenior Director, Corporate
Communicationsjoeymooring@gamestop.com
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