GameStop Corp. (GME) said Tuesday it has leased a 530,000 square foot facility in Reno, Nevada, as the videogame and consumer electronics retailer looks to expand its fulfillment network. The Reno facility is expected to be operational in 2022. GameStop's stock bounced 1.2% in premarket trading Tuesday, after falling 3.2% last week, and shedding 18.3% amid a four-week losing streak. The Reno lease announcement comes two months after GameStop said it entered into a lease of a 700,000 square foot fulfillment center in York, Pennsylvania. The meme stock has has gained 9.9% over the past three months through Friday, but has rocketed 976.6% year to date, while the S&P 500 has tacked on 6.8% over the past three months and advanced 15.9% this year.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 06, 2021 07:41 ET (11:41 GMT)
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