Grapevine-based video game retailer GameStop is expanding its e-commerce network with a new, 700,000-square-foot fulfillment center in York, Pa.
The company is leasing the space and expects the facility to be operational by the fourth quarter of 2021. GameStop intends for the new center to expedite shipping times for customers on the East Coast. The company also said the new facility will help it expand its product offerings but did not elaborate on the specific products.
GameStop introduced same-day delivery in some markets over the course of the pandemic. In a recent filing with the U.S. Securities Exchange Commission, the nation’s largest video game distributor outlined that it would undertake a modernization of its fulfillment network in 2021 to improve its delivery speed and performance.
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The stock, favored by the Reddit retail trading crowd, jumped 10% in after-hours trading after gaining nearly 12% in the day. Shares are up nearly 800% this year.
GameStop announced the at-the-market stock offering at the beginning of April, which was viewed as a way to capitalize on its recent head-turning rally that made Wall Street history.
In late January, a band of Reddit-obsessed retail traders coordinated trades on heavily shorted stocks, created a massive short squeeze in GameStop, whose shares surged 400% at one point. The brick-and-mortar retailer traded at less than $20 a share at the start of 2021.
The company is now in the middle of a shift to e-commerce, spearheaded by activist investor and board member Ryan Cohen, who was Chewy s co-founder.
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