{"id":241694,"date":"2021-05-03T18:31:29","date_gmt":"2021-05-03T15:31:29","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gamestop-signs-lease-for-massive-distribution-warehouse-ditches-debt\/"},"modified":"2021-05-03T18:31:29","modified_gmt":"2021-05-03T15:31:29","slug":"gamestop-signs-lease-for-massive-distribution-warehouse-ditches-debt","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gamestop-signs-lease-for-massive-distribution-warehouse-ditches-debt\/","title":{"rendered":"#GameStop signs lease for massive distribution warehouse, ditches debt"},"content":{"rendered":"

“#Game<\/a>Stop signs lease for massive distribution warehouse, ditches debt<\/strong>”<\/p>\n

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GameStop said it has signed a lease for a 700,000-square-foot distribution warehouse on Monday, even as it announced it has retired its corporate debt earlier than expected. <\/p>\n

The warehouse facility in York, Pa., which will support the Texas-based retailer\u2019s e-commerce business, is expected to be operational by the fourth quarter of this year and is meant to expedite GameStop\u2019s shipping needs along the East Coast.<\/p>\n

Separately, the video game retailer said Monday it has erased $216.4 million in long-term corporate debt that would have come due in 2023, leaving it with no long-term debt on its balance sheet.\u00a0<\/p>\n

GameStop shares \u2014 which have soared by more than 800 percent this year in what has been the dubbed the \u201cReddit<\/a> rally\u201d in previously unloved stocks \u2014 were recently off 0.6 percent at $172.51 in Monday morning trades.\u00a0<\/p>\n

\"A
A man walks past a GameStop store in the Jackson Heights neighborhood of Queens on Jan. 27.<\/figcaption>
REUTERS<\/span><\/figcaption><\/figure>\n

The new warehouse and debt paydown are the latest moves by the Texas-based chain\u2019s largest individual shareholder, Ryan Cohen, to reinvigorate the 37-year-old company.<\/p>\n

The billionaire entrepreneur \u2014 who founded Chewy.com and sold it for $3.3 billion to PetSmart \u2014 has been revamping the management team and board of directors, including a plan announced in April to install himself as chairman later this year.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#GameStop signs lease for massive distribution warehouse, ditches debt” GameStop said it has signed a lease for a 700,000-square-foot distribution warehouse on Monday, even as it announced it has retired its corporate debt earlier than expected. The warehouse facility in York, Pa., which will support the Texas-based retailer\u2019s e-commerce business, is expected to be operational…<\/p>\n","protected":false},"author":1,"featured_media":241695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/GameStop-002.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[104284,72134,72128,5005],"class_list":["post-241694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-3-21","tag-debt","tag-gamestop","tag-reddit"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/241694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=241694"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/241694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/241695"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=241694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=241694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=241694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}