Latest news with #GameStopCanada
CTV News
09-05-2025
- Business
- CTV News
‘Canadians relate to it as their brand': Gamers get another play at EB Games as part of acquisition deal
Canadian gamers are having déjà vu as a beloved brand returns to the gaming retail landscape under new leadership. GameStop Canada announced Monday that it's been acquired by Quebec entrepreneur Stephan Tetrault and will be relaunching all 185 stores under its original brand—EB Games Canada. The deal comes less than three months after U.S.-based GameStop Corp. announced its intention to sell its Canadian operations – though no details about the price tag or list of potential buyers have been shared. Tetrault, whose toy business portfolio includes Imports Dragon, McFarlane Toys and – as of last month – Mastermind Toys, says he's taking the helm with the goal of bringing back something Canadians truly loved. 'We're going to build something special here, with community, nostalgia, and innovation at its heart,' Tetrault said in Monday's release. The company, originally launched as Electronics Boutique Canada in 1993, is hoping to ride the wave of Canadian nationalism taking shape in response to U.S. President Donald Trump's threats of tariffs and annexation. 'We are proudly Canadian and we are Canadian owned and the climate is such that it makes sense to lean into that,' Jim Tyo, GameStop Canada's president, told CTV News. 'For 21 years it has been the EB Games brand and I think Canadians relate to it as their brand and the return seems logical with this fresh start.' The rebrand is also an opportunity for the company to move away from the negativity surrounding GameStop's meme coin craze, which happened the same year EB Games Canada's name was changed to match its parent company. In early 2021, GameStop's price jumped from $20 to $500 in a matter of weeks, as thousands of everyday investors banded together online to buy shares and squeeze hedge funds that were betting against it. The saga cost big investors billions, sparked outrage as trading apps briefly blocked purchases, and raised questions about market fairness. It also inspired the 2022 Hulu documentary 'GameStop: Rise of the Players' and the 2023 movie 'Dumb Money.' 'This is a great opportunity to breathe some life back into a failing business that probably wasn't doing well and reenergize what the brand was about,' says Sub Nijar, the chief strategy officer of the Vancouver marketing agency Cossette. He's offering some advice - free of charge - to the next generation of EB Games Canada. 'Go back and really look at what drove Canadians towards the brand,' says Nijar. 'If you say 'Hey we're back' but don't change the business model or change the experience customers had, then it's really easy to fall short on expectations – especially with this nostalgia and Canadian pride.' In a digital age that saw GameStop close 1,000 stores worldwide in 2024 – including 11 in Canada – there's hope EB Games will preserve the in-store experience. 'There is, especially in video games, a level of enthusiasm around the physical product that you don't see in other mediums,' says Paul Fogolin, vice-president of the Entertainment Software Association of Canada. 'I think a store like EB Games goes above and beyond to create experiences beyond just purchasing the game itself.' Tyo says the company is still very much committed to maintaining its brick-and-mortar stores, while also looking to invest in technology that will enhance the experience of customers—including a delivery system for the unique inventory spread out across the chain. The name relaunch is expected to take six months, though EB Games is already live online, as the company takes one step back to move its legacy forward.
Forbes
08-05-2025
- Business
- Forbes
GameStop Exits Canada After Sale To Entrepreneur Stephan Tetrault
Gamestop Canda stores will be rebranded as EB Games following the sale. (Photo by Roberto Machado ... More Noa/LightRocket via Getty Images) French-Canadian entrepreneur Stephan Tetrault has acquired Electronics Boutique Canada Inc. — also known as GameStop Canada — from GameStop Global Holdings, and the Canadian retailer will relaunch as EB Games Canada. "This isn't just a business decision — it's about bringing something back that Canadians truly loved," said Tetrault, owner and CEO of the newly rebranded EB Games Canada. "We're going to build something special here, with community, nostalgia, and innovation at its heart." EB Games Canada, which had originally been rebranded to GameStop Canada in 2021, will now return to its roots with a fresh identity that merges classic elements with modern retail experiences, the company said in a release. Plans for the revamped EB Games include enhanced in-store events, expanded product lines, deeper integration with pop culture brands, and a renewed focus on Canadians. "We want EB Games Canada to be more than a store — we want it to be the hub for gaming and fandom culture across Canada," said Jim Tyo, President, GameStop Canada. "This is about passion, and that's what's going to drive every decision we make." The move had been highly trailed, after the company in February said that it was exploring opportunities to sell its assets in the country, as well as its French business. FEATURED | Frase ByForbes™ Unscramble The Anagram To Reveal The Phrase Pinpoint By Linkedin Guess The Category Queens By Linkedin Crown Each Region Crossclimb By Linkedin Unlock A Trivia Ladder GameStop CEO Ryan Cohen had posted on X about the opportunity to acquire the business, but had added somewhat bitterly: 'High taxes, liberalism, socialism, progressivism, wokeness and DEI included at no additional cost if you buy today.' GameStop, which has been a meme stock not once by twice, had seen its share price underpinned by retail buyers, which means its share price is up by nearly two thirds over the past 12 months, but is down about 15% since the start of the year. However as consumers consistently evolve the way they buy gaming products, GameStop has struggled to move with the market and also has a huge legacy store estate. The sale of GameStop's international assets followed its announcement in March that it expected to close a 'significant number' of stores in fiscal 2025 after closing 970 stores in fiscal 2024. The plan represents part of the retail gaming destination's ongoing evaluation of its overseas business and operations aimed at achieving sustained profitability, GameStop said in a Form-10K filed on March 25 with the Securities and Exchange Commission. During fiscal 2024, GameStop closed 590 stores in the U.S., 336 in Europe, 33 in Australia and 11 in Canada, according to the filing. The company's fourth-quarter net sales fell 28.5% year over the year to $1.3 billion, and net income more than doubled to $131 million. In the quarter, GameStop also completed its divestiture of its operations in Italy and 'the wind-down of store operations in Germany.' GameStop has said that it will reduce its store count again this fiscal year. That followed the exit of operations in Ireland, Switzerland and Austria during fiscal 2023. As of February 1, the end of GameStop's fiscal 2024, the retailer had 3,203 stores of which 2,325 were in the U.S. 'We have also initiated a comprehensive store portfolio optimization review which involves identifying stores for closure based on many factors, including an evaluation of current market conditions and individual store performance,' the company said in the filing. Together with its effort to optimize its cost structure, GameStop has focused on establishing 'omnichannel retail excellence' and adding new product and service offers, including graded collectibles, according to the filing, while in March it partnered with buy now, pay later specialist Zip. The gaming retailer also announced in March that its board had unanimously voted to add bitcoin as a treasury reserve asset, despite acknowledging it was a 'highly volatile' asset and could prove unsuccessful as a strategy. The transition from GameStop Canada to EB Games Canada will roll out nationwide to the retailer's 185 stores over the coming months, including updated store signage, a redesigned website, and new branding across digital and social platforms all in order to enhance customer experience.
Hamilton Spectator
05-05-2025
- Business
- Hamilton Spectator
Canada's GameStop stores to return to former EB Games name as buyer takes over Canadian operations
The EB Games name is coming back. Stephan Tetrault, described as a prominent French-Canadian entrepreneur and longtime leader in the collectibles and entertainment space, has purchased Electronics Boutique Canada inc., known as GameStop Canada, from GameStop Global Holdings S.A.R.L. The company announced on May 5 it will relaunch as EB Games Canada, a name still easily recognized in Canada. EB Games Canada was rebranded as GameStop Canada in 2021. The company said it plans to return to its roots, but with a fresh identity, merging classic elements with a modern retail experience. Plans for a revamped EB Games include enhanced in-store events, expanded product lines, deeper integration with pop culture brands and a renewed focus on Canadians, the company said. 'This isn't just a business decision — it's about bringing something back that Canadians truly loved,' Tetrault, now the company's owner and CEO, stated in a news release. 'We're going to build something special here, with community, nostalgia and innovation at its heart.' 'We want EB Games Canada to be more than a store — we want it to be the hub for gaming and fandom culture across Canada,' company president Jim Tyo stated in the same release. 'This is about passion, and that's what's going to drive every decision we make.' The company said the transition back to EB Games will be rolled out nationwide over the coming months. There will be updated store signage, a redesigned website and new branding across digital and social platforms. The company has more than 185 stores in Canada. More information is available at
Montreal Gazette
05-05-2025
- Business
- Montreal Gazette
GameStop Canada bought by Quebec toy maker, will return to EB Games brand
TORONTO — GameStop Canada says it has been acquired by entrepreneur Stéphan Tétrault from the video game retailer's struggling parent company. Officially named Electronics Boutique Canada Inc., GameStop Canada says it will relaunch its 185 stores as EB Games Canada — a name associated with retail gaming until it was rebranded in 2021. Tétrault is the founder of Montreal-area-based toy manufacturer Imports Dragon and co-owner of American action figure-maker McFarlane Toys, and last month became a partner at Canadian chain Mastermind Toys. U.S.-based GameStop Corp. said in February it was looking to sell its Canadian and French operations as it evaluates its international assets and doubles down on cost-cutting. GameStop was one of the companies at the centre of the 'meme stock' craze on Wall Street, which saw struggling brands' share prices soar as retail investors made risky bets. Its sales last year declined 27 per cent to $3.82 billion, though net income shot up to $131.3 million versus $6.7 million in 2023.
Toronto Star
05-05-2025
- Business
- Toronto Star
GameStop Canada bought by Quebec toy maker, to be rebranded EB Games
TORONTO - GameStop Canada says it has been acquired by French-Canadian entrepreneur Stephan Tetrault from the video game retailer's struggling parent company. Officially named Electronics Boutique Canada Inc., GameStop Canada says it will relaunch its 185 stores as EB Games Canada — a name associated with retail gaming from bygone decades.
