Shares of the retailer rose about 8 percent on Monday. The company has seen its stock drop more than 35 percent over the past year.
As Pokemon Go provides GameStop a boost during a traditionally slow time of year, the chain is far from a doomsday scenario, despite the market data, Raines said.
Pokemon Go has hit the market at a time when GameStop has pushed heavily on virtual reality headsets and gaming. GameStop has sold out everything they've been given on reserve when it comes to virtual reality, Raines said.
"Virtual reality, by any external measure, will be a very large market— in the millions of dollars — and we will dominate the Sony VR part of that launch," "We're also involved with HTC Vive and have had discussions with Oculus Rift."