Latest news with #Tetrault
Yahoo
08-05-2025
- Business
- Yahoo
GameStop sells its Canadian business
This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. After teasing its intention earlier this year, GameStop has sold its Canadian business (officially named Electronics Boutique Canada Inc.) to entrepreneur Stephan Tetrault, according to a Monday press release. Tetrault will act as company CEO, and the terms of the acquisition were not disclosed. Now known as 'GameStop Canada,' the business will be relaunched as EB Games Canada — its company name before being rebranded in 2021. The retailer has more than 185 stores across Canada. The relaunch will be accompanied by 'in-store events, expanded product lines, deeper integration with pop culture brands, and a renewed focus on Canadians,' per the release. French-Canadian entrepreneur Tetrault has positioned his acquisition as an effort to revitalize the country's retail gaming industry. "This isn't just a business decision—it's about bringing something back that Canadians truly loved," Tetrault said in a statement. "We're going to build something special here, with community, nostalgia, and innovation at its heart." Tetrault is listed as a co-owner of action figure manufacturer McFarlane Toys and game company Imports Dragon on LinkedIn. This deal comes as no surprise, after the company in February announced it was in the market to sell its assets in the country, as well as its French business. CEO Ryan Cohen had shared an email contact in a post on X for those interested in an acquisition, adding that, 'High taxes, liberalism, socialism, progressivism, wokeness and DEI included at no additional cost if you buy today.' The sale of GameStop's international assets follows news in March that the company would close a 'significant number' of stores in 2025. In 2024, the company decreased its footprint with the closure of about 600 U.S. locations. The company's fourth-quarter net sales fell 28.5% year over year to $1.3 billion, and net income more than doubled to $131 million. In the quarter, GameStop completed its divestiture of its operations in Italy and 'the wind-down of store operations in Germany.' In March, the gaming retailer also announced that its board voted unanimously to add bitcoin as a treasury reserve asset. The company acknowledged it was a 'highly volatile' asset and could prove unsuccessful as a strategy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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
Winnipeg Free Press
05-05-2025
- Business
- Winnipeg Free Press
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. Tetrault 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. This report by The Canadian Press was first published May 5, 2025. Companies in this story: (TSX:TKTK)
