GameStop Gives Activist Investor 3 Board Seats as Holiday Sales Soar

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GameStop (NYSE: GME) had a merry Christmas after all as the video game retailer reported comparable sales in its physical stores rose almost 5% during the nine-week holiday period, and online sales more than quadrupled.

The company also said it was expanding its board of directors from 10 to 13 members, appointing three directors recommended by RC Ventures, the activist investor that has increased its stake in GameStop to about 13%, making it one of the video game retailer’s largest shareholders.

Image source: Getty Images.

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