Reggie From Nintendo Says GameStop Doesn’t Know What It’s Doing
When former Nintendo of America president Reggie Fils-Aimé joined GameStop’s board of directors in 2020, the video game retailer was trading at less than $5 a share.
One year later shares were worth over $150 and Fils-Aimé was headed for the door. Why did he leave when everything was so hot? By the looks of it, GameStop’s new meme star investor didn’t have the role of the former Nintendo boss in revolutionizing the brick-and-mortar chain or a clear plan for how to go about it.
“When the strategy was just getting started, I asked me to be part of the strategy development team,” Fils-Aimé said. BloombergEmil Chang on stage at SXSW at the weekend. “I knew this business. I knew it as a consumer, I knew it as a seller.
“There was no formulated strategy,” Fils-Aimé said. “You can go to the GameStop website. Try to find a strategy. There is no clear strategy. . Blockchain and NFTs are also part of the mix because of course.
One place GameStop doesn’t invest in? The people who run his stores. As employees said Kotaku Last year there was a festive rush pushing many of them to the limit. Despite record inflation and strong store turnover, the company has reportedly been reluctant to raise salaries or maintain adequate staff in some locations. If Cohen had a strategy to turn things around, they didn’t know it either.