History of GameStop in Timeline
GameStop is a major global video game, consumer electronics, and gaming merchandise retailer, operating over 3,200 stores worldwide as of February 2025. Headquartered in Grapevine, Texas, it's the largest video game retailer globally, with a significant presence in the United States, Canada, Australia, and Europe. Originally founded in 1984 as Babbage's in Dallas, the company rebranded as GameStop in 1999. Its stores operate under several brand names, including GameStop, EB Games, Micromania-Zing, and ThinkGeek.
1984: GameStop Founded as Babbage's
In 1984, the company that would become GameStop was founded in Dallas as Babbage's, marking the beginning of its journey as a video game retailer.
1987: Babbage's begins selling Nintendo games
In 1987, Babbage's started selling Nintendo games, expanding its offerings beyond Atari 2600 and recognizing the growing popularity of Nintendo.
1988: Babbage's becomes a public company
In 1988, Babbage's became a public company through an initial public offering (IPO).
1991: Video games account for two-thirds of Babbage's sales
By 1991, video games accounted for two-thirds of Babbage's sales, indicating the company's increasing focus on the video game market.
1991: Game Informer first published
In 1991, Game Informer, a video game magazine, was first published before Barnes & Noble acquired Funco in May 2000.
1994: Babbage's merges with Software Etc.
In 1994, Babbage's merged with Software Etc. to create NeoStar Retail Group, with both companies operating as independent subsidiaries under the new holding company.
February 1995: Gary Kusin resigns, Daniel DeMatteo appointed president
In February 1995, Gary Kusin resigned as president of Babbage's and Daniel DeMatteo assumed the position while also being promoted to president and COO of NeoStar.
May 1996: NeoStar Merges Babbage's and Software Etc.
In May 1996, NeoStar merged its Babbage's and Software Etc. units due to declining sales, with James McCurry assuming the role of president.
November 1996: NeoStar's assets purchased by Leonard Riggio
In November 1996, Leonard Riggio, a founder of Software Etc. and chairman of Barnes & Noble, purchased the assets of NeoStar for $58.5 million after NeoStar filed for Chapter 11 bankruptcy.
1996: Daniel DeMatteo serves as COO
From 1996, Daniel DeMatteo served as the COO of GameStop.
October 1999: Barnes & Noble Booksellers Purchases Babbage's Etc.
In October 1999, Barnes & Noble Booksellers acquired Babbage's Etc. for $215 million, with a special committee of independent directors approving the deal.
1999: Babbage's Etc. Launches GameStop Brand and gamestop.com
In 1999, Babbage's Etc. launched its GameStop brand with 30 stores in strip malls and introduced gamestop.com, an e-commerce website for purchasing video games online.
1999: Company renamed to GameStop
In 1999, Babbage's officially took on the name GameStop, signifying a major rebranding in the company's history.
May 2000: Barnes & Noble Acquires Funco
In May 2000, Barnes & Noble acquired Funco, including FuncoLand and Game Informer, for $160 million, further expanding its presence in the video game retail market.
December 2000: Funco Renamed GameStop, Inc.
In December 2000, Funco was renamed GameStop, Inc., in anticipation of holding an initial public offering for the company.
February 2002: GameStop Becomes Public Company Again
In February 2002, GameStop once again became a public company through an initial public offering, although Barnes & Noble retained significant control.
2003: GameStop Enters European Market
In 2003, GameStop entered the European market with the acquisition of Irish video game retailer Gamesworld.
October 2004: GameStop Becomes Independent Company
In October 2004, Barnes & Noble distributed its stake in GameStop to its stakeholders, making GameStop an independent company.
2004: GameStop founds MovieStop
In 2004 GameStop founded MovieStop to focus on new and used movies.
October 2005: GameStop Merges with EB Games
In October 2005, GameStop's merger with EB Games expanded GameStop's European presence with the addition of nearly 400 stores across multiple countries.
2005: EB Games Acquisition of Jump Ordenadores SLU
In 2005, prior to merging with GameStop, EB Games acquired Jump Ordenadores SLU in Spain.
2007: GameStop Operates 636 Stores Across Europe
By 2007, GameStop was operating 636 stores across Europe, including Portugal.
2007: GameStop's Attempt to Expand into UK Fails
In 2007, GameStop's bid to acquire GameStation and its 217 stores from Blockbuster was thwarted by GAME.
April 2008: GameStop Acquires Free Record Shop's Norwegian Stores
In April 2008, GameStop acquired Free Record Shop's 49 Norwegian stores.
August 2008: Daniel DeMatteo Replaces Richard Fontaine as CEO
In August 2008, Daniel DeMatteo replaced Richard Fontaine as GameStop CEO, with Fontaine remaining as chairman.
June 2010: J. Paul Raines Becomes GameStop CEO
In June 2010, J. Paul Raines became GameStop CEO, succeeding Daniel DeMatteo, who was named executive chairman.
November 2010: GameStop offers pre-order bonuses
In November 2010, GameStop included an additional avatar costume for Call of Duty: Black Ops as a pre-order bonus.
2011: Limit of GameStop's Growth in Europe
By 2011, GameStop had reached the limit of its growth in Europe operating over 1,400 stores.
2011: GameStop's Digital Revenue
In 2011, GameStop's digital revenue was $190 million.
January 2012: GameStop Closes Stores in Northern Ireland
In January 2012, GameStop closed its four remaining stores in Northern Ireland, ending its physical presence in the United Kingdom and shifting its UK business online.
October 2012: GameStop Introduces GameStop Kids
In October 2012, GameStop introduced GameStop Kids, a pop-up retail concept focusing on children's products and games rated 'Everyone' by the ESRB.
2012: GameStop spins off MovieStop
In 2012, GameStop spun off MovieStop to private owners.
2012: GameStop's Digital Revenue Grows Significantly
In 2012, GameStop's digital revenue grew significantly from $190 million in 2011 to over $600 million under the leadership of J. Paul Raines.
July 2014: EB Games Australia Introduces ZiNG Pop Culture
In July 2014, EB Games Australia introduced ZiNG Pop Culture, a pop culture retailer, expanding the company's merchandise offerings.
September 2014: GameStop withdraws from Spain
In September 2014, GameStop announced its withdrawal from Spain and the sale of some of its stores to GAME.
November 2014: Draw Another Circle LLC Purchases MovieStop
In November 2014, Draw Another Circle LLC purchased MovieStop.
2014: Establishment of Zing Pop Culture Brand
In 2014, The Sydney Morning Herald reported the diversification into merchandise through the establishment of the Zing Pop Culture brand had been vital in keeping the company profitable.
January 2016: GameStop partners with Insomniac Games
In January 2016, GameStop announced a partnership with Insomniac Games with its 2016 title Song of the Deep. GameStop aimed to enhance direct communication with players and anticipated expanding similar distribution deals with other developers if this venture proved successful.
March 2016: Puerto Rico Stores Shut Down
At the end of March 2016, all GameStop stores in Puerto Rico were closed due to increased government taxes.
April 2016: GameStop creates GameTrust Games publishing division
In April 2016, GameStop created the GameTrust Games publishing division to serve as a publisher for mid-sized developers. GameTrust Games announced it was working with Ready At Dawn, Tequila Works, and Frozenbyte to prepare more titles.
December 2016: UK Website Closure
In December 2016, GameStop closed its UK website, exiting the UK market.
2016: Decline in Sales at GameStop
In 2016, the market for physical game media began to decline due to downloadable games, resulting in a decline in sales at GameStop.
February 2017: GameStop's Circle of Life Policy Revealed and Reformed
In February 2017, GameStop's Circle of Life policy, which emphasized employee sales quotas for pre-orders, rewards cards, and used games, was revealed and subsequently reformed after criticism.
November 2017: J. Paul Raines on Medical Leave
Since November 2017, J. Paul Raines was on medical leave due to the reoccurrence of a brain tumor.
2017: GameStop Reports Drop in Sales for 2016 Holiday Season
In 2017, GameStop reported a 16.4% drop in sales for the 2016 holiday season due to the decline of physical game media.
January 31, 2018: J. Paul Raines Resigns
On January 31, 2018, J. Paul Raines resigned from GameStop due to a recurrence of a brain tumor.
February 2, 2018: Revenue Falls
On February 2, 2018, GameStop's total revenue decreased by 7.6% to $3.06 billion for the quarter ending on this date.
February 6, 2018: Michael K. Mauler Appointed CEO
On February 6, 2018, GameStop announced Michael K. Mauler as the new CEO and member of the board of directors.
March 4, 2018: J. Paul Raines Dies
On March 4, 2018, J. Paul Raines, former CEO of GameStop, passed away.
May 11, 2018: Mauler Resigns
On May 11, 2018, Michael K. Mauler resigned as CEO of GameStop due to "personal reasons."
May 31, 2018: Shane Kim Named Interim CEO
On May 31, 2018, GameStop appointed Shane Kim as interim CEO.
June 2018: Possible Sale Talks Confirmed
In June 2018, GameStop confirmed discussions about a possible sale, with Sycamore Partners being the most likely buyer.
2018: Spring Mobile Investment Deemed a Failure
In 2018, Business Insider reported GameStop's investment in Spring Mobile as a failure, estimating an $800 million debt after selling Spring Mobile to Prime Communications.
2018: Biggest Loss in Company History
In 2018, financial results showcased the biggest loss in GameStop's history.
January 2019: Share Price Decline
Since late January 2019, the share price of GameStop had been in steady decline.
January 29, 2019: GameStop Halts Sale Search
On January 29, 2019, GameStop announced it ceased seeking a buyer, citing financing issues and shares plummeted to a 14-year low.
February 2, 2019: Record Net Loss Reported
For the 52-week period ending on February 2, 2019, GameStop reported a record-breaking net loss of $673 million and eliminated its dividend.
February 2019: Target Sale Date
By February 2019, Sycamore Partners was expected to be the most likely buyer of Gamestop.
March 2019: George Sherman Becomes CEO
In March 2019, George Sherman replaced Shane Kim and became the new CEO of GameStop.
June 2019: Jim Bell appointed as finance chief
In June 2019, Jim Bell was appointed as the finance chief of GameStop.
July 2019: Partnership with R/GA
In July 2019, GameStop partnered with R/GA to revamp stores, focusing on competitive and retro gaming and offering try-before-you-buy options.
July 31, 2019: Layoffs Announced
On July 31, 2019, a leaked email indicated 50 GameStop employees, including district and regional managers, would be laid off as part of reorganization efforts.
August 2019: Further Layoffs
In August 2019, GameStop laid off over 120 people, including approximately half of the Game Informer staff, as part of the "GameStop Reboot initiative".
August 2019: Scion Asset Management Urges Stock Buyback
In August 2019, Michael Burry's Scion Asset Management urged GameStop to engage in a $238 million stock buyback, also revealing they owned about 3.05% of GameStop.
August 2019: Store Closures Planned
In August 2019, after missing analyst expectations, GameStop announced plans to close approximately 180-200 underperforming stores.
September 2019: Analyst Expectations Missed
In September 2019, it was reported that GameStop missed analyst's expectations during the 2nd quarter of the fiscal year 2019 ending in August 2019.
December 2019: Stock Buyback Announced
In December 2019, GameStop announced it spent $178.6 million to buy 34.6 million shares, representing 34% of the shares outstanding.
December 2019: Nordic Operations Wind Down Announced
In December 2019, GameStop announced it would wind down its Nordic operations during 2020, closing 100 stores across Denmark, Finland, Norway, and Sweden.
2019: EB Games Australia Pre-pandemic Fiscal Year
For the pre-pandemic Fiscal Year 2019, EB Games Australia posted net sales of US$525.4 million and operating earnings of US$9.4 million.
2019: Losses Reported in 2019
The chain reported a US$165 million loss in contrast to a US$6.8 million for the same quarter in 2019.
March 12, 2020: Shareholders Send "Threat" Letter
On March 12, 2020, a group of GameStop shareholders sent a "threat" letter urging the board to appoint a stockholder representative as a director.
March 2020: Board of Directors Changes
In March 2020, four members of GameStop's board of directors stepped down and were replaced as part of a business turnaround effort.
March 2020: Criticism Over COVID-19 Response
In mid-March 2020, GameStop faced criticism for its response to the COVID-19 pandemic, accused of prioritizing business over safety and capitalizing on increased video game purchases. They decided to sell Doom Eternal a day before it was officially released.
March 29, 2020: Trade-Ins Suspended
By March 29, 2020, GameStop suspended all trade-ins until at least this date, and offered curbside pickup.
April 2020: Curbside Pickup Ceased in Massachusetts
In early April 2020, a GameStop location in Dorchester, Boston received a nuisance citation for violating the Massachusetts stay-at-home order with curbside pickup, leading to the service being discontinued in the state.
May 2020: Store Operations Resume
Around May 2020, GameStop began reopening its 3,500 stores after closures due to COVID-19, while continuing online and curbside sales.
May 2020: Burry Lowers Stake in GameStop
In May 2020, Michael Burry lowered his stake in GameStop.
July 2020: Closure of Nordic Operations
By July 2020, GameStop had completed the closure of its 100 stores in Denmark, Finland, Norway, and Sweden, exiting the Nordic countries.
October 8, 2020: Agreement with Microsoft Announced
On October 8, 2020, GameStop announced an agreement with Microsoft to migrate backend systems to Microsoft 365 and use Microsoft Surface products in stores, including revenue sharing on Xbox Series X and S digital game purchases.
2020: European Sales Fall
By the end of 2020, GameStop had 954 stores in Europe and sales had fallen to $789 million, with losses of $78.7 million.
2020: Profitable Year for Australian Division
For the 2020 fiscal year, GameStop's Australian division was the only profitable segment, reporting profits of US$9.4 million.
2020: EB Games Australia Experiences Sales Surge
In 2020, EB Games Australia experienced a 30% sales surge due to Australian Federal Government National Cabinet largely permitted retail stores to remain open with capacity limits in place.
January 2021: Short squeeze leads to 1,500% share price increase
In January 2021, a short squeeze caused GameStop's share price to surge by 1,500% over two weeks, reaching an all-time high of over US$500.00. The unusual trading activity was attributed to short sellers using illegal business practices, resulting in the stock being shorted over 100 percent of the company's free float.
January 29, 2021: GameStop share price reaches all-time intraday high
On January 29, 2021, GameStop's share price reached an all-time intraday high of over US$500.00 on the New York Stock Exchange due to trading activity around a short squeeze.
February 2021: Announcement of Jim Bell's departure
In February 2021, GameStop announced that its finance chief Jim Bell, appointed in June 2019, would leave the company on March 26, 2021.
February 2021: GameStop Stock Price Skyrockets Due to Short Squeeze
In January and February 2021, GameStop's stock price experienced extreme volatility due to a short squeeze initiated by retail investors on Reddit, causing the stock to rise from $17.25 to over $500 per share.
March 26, 2021: Jim Bell's departure
On March 26, 2021, GameStop's finance chief Jim Bell, who was appointed in June 2019, left the company. The company stated that his departure was not due to any disagreements with the company or its operations.
April 2021: George Sherman announces resignation as CEO, Ryan Cohen named chairman
In April 2021, George Sherman announced that he would step down as CEO of GameStop by July 31, 2021. Also in April 2021, Ryan Cohen, founder of Chewy and a large GameStop shareholder, was named chairman, effective in June 2021.
May 26, 2021: GameStop announces NFT platform plans
On May 26, 2021, GameStop announced it was developing a non-fungible token (NFT) platform using blockchain Ethereum technology, with the goal of transforming GameStop into the "Amazon of gaming."
June 9, 2021: GameStop appoints Matt Furlong and Mike Recupero as CEO and CFO
On June 9, 2021, GameStop appointed former Amazon executives Matt Furlong and Mike Recupero as CEO and CFO respectively.
June 2021: Ryan Cohen named chairman
In June 2021, Ryan Cohen, founder of Chewy and a large GameStop shareholder, was named chairman.
June 21, 2021: Matt Furlong takes over as CEO
On June 21, 2021, Matt Furlong took over the position of CEO from George Sherman.
July 31, 2021: George Sherman steps down as CEO
George Sherman stepped down as CEO of GameStop by July 31, 2021.
December 2021: Larger-than-Expected Loss Posted
In December 2021, GameStop reported a larger-than-expected loss in the fiscal third quarter, causing shares to plummet.
2021: Continued Profitability in Australia
In 2021, GameStop's Australian division remained profitable, reporting US$52.2 million in profits.
July 11, 2022: Beta version of NFT platform launched
On July 11, 2022, the Beta version of GameStop's NFT platform was launched.
July 2022: NFT content moderation controversies
In July 2022, GameStop removed an NFT from its platform that referenced the photo "The Falling Man" and restricted the creator's ability to mint new NFTs. Additionally, GameStop removed listings and minting abilities for a user selling unlicensed HTML5 games as NFTs, although the NFTs remained on the blockchain and the games on GameStop's servers.
July 2022: Mike Recupero fired as CFO, replaced by Diana Saadeh-Jajeh
In July 2022, Mike Recupero was fired as CFO of GameStop. He was replaced by Diana Saadeh-Jajeh, who was the company's chief accounting officer.
December 2022: GameStop lays off NFT platform team
In December 2022, GameStop laid off a large portion of the team working on the NFT platform.
2022: Continued Profitability in Australia
In 2022, GameStop's Australian division continued to be profitable, reporting US$30.6 million in profits.
March 2023: GameStop decides to leave Ireland
In March 2023, GameStop decided to leave Ireland after another loss-making year, accumulating losses to €45.5 million. It closed its 35 stores by June, costing GameStop €13 million in severance payments and lease buyouts.
May 2023: Cidiverte rebranded Swiss GameStop stores
By May 2023, the Swiss business was saved when the small Italian gaming retailer, Cidiverte, who operates ten stores in Italy, took over and rebranded all the Swiss GameStop stores.
June 2023: Matt Furlong removed as CEO and replaced by Ryan Cohen
In June 2023, Matt Furlong was removed from his position as CEO and replaced by Ryan Cohen.
August 2023: GameStop announces wind down of crypto and NFT wallet
In August 2023, GameStop announced the winding down of its crypto and NFT wallet due to "regulatory uncertainty".
September 2023: Ryan Cohen takes over as CEO
In September 2023, Ryan Cohen took over as CEO of GameStop, in addition to his chairman role, without collecting a salary.
December 2023: Gamestop's NFT marketplace still allows users the ability to trade in-game items
As of December 2023, Gamestop's NFT marketplace still allowed users the ability to trade in-game items using other NFT wallets (such as MetaMask).
2023: Net Income Announced
For the fiscal year of 2023, GameStop had a net income of $6.7 million as announced in March 2024.
January 2024: NFT marketplace to be shuttered
In January 2024, Gamestop ultimately announced that on February 2, 2024, the NFT marketplace would be shuttered completely.
February 1, 2024: GameStop operated 3,023 stores
As of February 1, 2024, the company operated 3,023 stores including 2,325 in the United States Division, 193 in the Canada Division, 374 in the Australia Division and 311 in the Europe Division.
February 2, 2024: GameStop NFT Marketplace Shuttered
On February 2, 2024, Gamestop shuttered its NFT Marketplace completely.
March 2024: Net Income Announced for Fiscal Year 2023
In March 2024, GameStop reported a net income of $6.7 million for the fiscal year 2023.
March 2024: GameStop announces staff cuts
In March 2024, it was announced that GameStop would cut an unknown number of staff in an effort to achieve profitability. The company also noted that these cuts may strain its existing resources.
August 2024: Game Informer magazine discontinued
In August 2024, GameStop discontinued Game Informer, a magazine owned by GameStop, Inc. that was primarily sold through subscriptions.
August 2024: GameStop discontinues Game Informer magazine
In August 2024, GameStop discontinued publishing Game Informer, a video game magazine that it owned.
November 2024: GameStop to cease operations in Germany
In November 2024, GameStop decided to cease operations in Germany, closing its remaining 69 stores by January 2025, as well as its warehouse and headquarters in Tannheim.
November 2024: GameStop sells GameStop Italy to Cidiverte
In November 2024, GameStop sold GameStop Italy to Cidiverte, a small Italian competitor which operates ten stores under the Gamelife brand.
2024: GameStop closes stores due to declining sales
In 2024, GameStop closed stores due to the decline in sales, however in 2025 they were on pace to close twice as many stores.
January 2025: GameTrust published games on Steam
As of January 2025, GameTrust has published two games on Steam in 2016 and 2017 respectively.
January 2025: Closure of GameStop Germany
By January 2025, GameStop closed its remaining 69 stores in Germany, as well as its warehouse and headquarters in Tannheim.
February 2025: GameStop operates stores worldwide
As of February 2025, GameStop operates 3,203 stores worldwide, including 2,325 in the United States, 193 in Canada, 374 in Australia, and 311 in Europe, under various brand names.
March 25, 2025: GameStop plans to buy Bitcoin
On March 25, 2025, GameStop announced its plan to allocate its cash reserves to purchase Bitcoin, marking a strategic shift in its investment approach.
2025: GameStop closes over 400 stores due to declining sales
In 2025, GameStop closed over 400 stores, due to the decline in sales, on pace to close twice as many stores as they did in 2024.
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