GameStop To Boost Employee Compensation To Drive Growth: Report

GameStop Corp GME looks to reward thousands of employees with stock and pay raises, returning focus to its bricks-and-mortar business, the Wall Street Journal reports.
The videogame retailer, which had shifted last year to growing online sales, increased its focus to motivate and retain the employees at its over 3,000 locations in the U.S.
GameStop plans to award stock to its U.S. store leaders and give raises to some senior store staff.
Store leaders will receive up to $21,000 in stock, which will vest over three annual installments.
The financial awards will start next month, CEO Matt Furlong said.
GameStop has invested $45 million - $50 million in the new employee-compensation initiative.
GameStop dedicated 2021 to revamping its e-commerce operations by leasing more fulfillment centers and adding a new customer-service facility in Florida.
GameStop launched a marketplace for trading nonfungible tokens.
GameStop clocked 7.9% net sales growth to $1.378 billion Q1, ahead of Street estimates.
EPS loss of $(2.08) missed the consensus estimate.
Price Action: GME shares traded 1.78% higher at $32.08 premarket on the last check Thursday.
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