GameStop, the popular brick and mortar videogame retailer, has announced its intention to sell its operations in Canada and France, citing an "evaluation of its international assets" as the reason behind this decision. The company has been struggling with declining revenues over the past few years, which has led to the closure of over 700 stores worldwide since 2020. The latest move is seen as a part of the company's efforts to optimize its store portfolio and reduce costs. GameStop's CEO, Ryan Cohen, has been vocal about his concerns over the "wokeness" and high taxes in Canada and France, which he believes are detrimental to the company's growth.

The company's decision to sell its Canadian and French operations has been met with mixed reactions from investors and analysts. Some believe that this move is a strategic decision to focus on the company's core operations in the US, while others see it as a sign of the company's struggles to adapt to the changing retail landscape. GameStop's fortunes took a turn for the worse after the COVID-19 pandemic forced the mass-closures of its stores, and the company has been struggling to find its place in the digital marketplace. The retail giant has seen a drastic drop in its third-quarter net sales, down 20 per cent to $860 million from the $1.08 billion in the previous year.

GameStop's Canadian operations consist of 203 stores, while its French operations comprise 332 stores. The company has already exited its operations in Ireland, Switzerland, and Austria, and has sold its Italian subsidiary. The company's plans to sell its Canadian and French operations are seen as a part of its broader efforts to reduce its international footprint and focus on its core operations. The company's CEO has been critical of the "wokeness" and diversity initiatives in Canada and France, which he believes are not conducive to the company's growth. The company's decision to sell its operations in these countries is seen as a reflection of its commitment to its core values and its desire to operate in a business-friendly environment.

The potential sale of GameStop's Canadian and French operations has raised questions about the future of the company's employees in these countries. The company has not provided any details about the potential impact of the sale on its employees, but it is likely that the sale will result in significant job losses. The company's decision to sell its operations in Canada and France is seen as a part of its broader efforts to reduce costs and optimize its store portfolio. The company's financial performance has been under pressure in recent years, and the sale of its Canadian and French operations is seen as a necessary step to ensure the company's long-term viability.

Here are some key points to note about GameStop's decision to sell its Canadian and French operations: * The company plans to sell its operations in Canada and France as part of its broader efforts to optimize its store portfolio and reduce costs. * The company's Canadian operations consist of 203 stores, while its French operations comprise 332 stores. * The company has already exited its operations in Ireland, Switzerland, and Austria, and has sold its Italian subsidiary. * The company's decision to sell its operations in Canada and France is seen as a reflection of its commitment to its core values and its desire to operate in a business-friendly environment. * The potential sale of GameStop's Canadian and French operations has raised questions about the future of the company's employees in these countries.