Shoppers wait for a GameStop store to open on at the Tysons Corner Center, in Tysons, Virginia, November 27, 2020.
Hannah McKay | Reuters
The plan to turn beleaguered retailer GameStop into an e-commerce powerhouse is still murky five months after the stock first caught fire, according to investment firm Baird.
On Wednesday, GameStop reported stronger-than-expected revenues for the first quarter, helped by console sales, and announced that it had tapped two Amazon veterans as CEO and CFO. They join board member and Chewy co-founder Ryan Cohen as high-level leaders at the company with e-commerce experience.
However, the company declined to provide forward guidance and announced that it might sell up to 5 million shares. The stock was down 10% Thursday morning.
