GameStop Announces Voluntary Early Redemption of Senior Notes

GameStop Corp., a Fortune 500 company headquartered in Grapevine, Texas, is the world's largest video game retailer, runs over 5,000 shops across 10 states, also gives the very best variety of fresh and pre-owned video gaming consoles, accessories and video game titles, in both physical and electronic formats. GameStop also provides fans a vast array of POP! Vinyl characters, collectibles, board games and much more. During GameStop's unique buy-sell-trade app, players can exchange in video game consoles, games, and accessories, in addition to consumer electronics for money or in-store credit. The corporation's consumer merchandise network also comprises www.gamestop.com and Game Informer® magazine, the world's top print and electronic video game book. Such statements are based upon management's current beliefs, perspectives, quotes and expectations, such as concerning the organization's business, company plan, objectives and expectations regarding its market place, future operations, margins, profitability, capital expenditures, liquidity and capital assets and other financial and operating data, including expectations regarding future operating profit development. Such statements include without limitation those about the organization's financial results, expectations and other statements which aren't historical facts. Forward-looking statements are subject to important risks and uncertainties and actual developments, company decisions and outcomes may vary materially from those represented or clarified from the forward-looking statements. These factors, amongst others, may cause actual results to differ materially from those represented or clarified in the forward-looking statements: macroeconomic pressures, such as the consequences of COVID-19 on customer spending and our capacity to keep shops open; the effects of the COVID-19 pandemic on the organization's business and financial results; the financial conditions from the U.S. and particular foreign markets; the cyclicality of the video game sector; the organization's dependence on the timely delivery of fresh and advanced products from its vendors; the effect of technological improvements from the video game business and relevant changes in customer behaviour on the organization's earnings; the organization's ability to maintain pace with changing industry technology and customer tastes; the effect of international disasters and trade restrictions and tariffs on the shipping of this organization's products; the organization's ability to obtain favorable terms from its suppliers; the global nature of the organization's business; the organization's dependence on sales throughout the holiday selling period; changes in the organization's results of operations from quarter to quarter; the organization's capability to de-densify its worldwide store foundation; the organization's capacity to renew, terminate or enter into new leases on favorable terms; the aggressive nature of the organization's industry; the organization's ability to attract and retain executive officers and key employees; the adequacy of the organization's management information systems; the organization's reliance on centralized facilities for refurbishment of its own pre-owned goods; the organization's capacity to respond to trends in pop culture concerning its sales of our reliance on licensed goods for a significant part of such earnings; the organization's ability to keep safety of its client, employee or business information; possible injury to the organization's reputation; the organization's ability to keep effective control over financial reporting; the organization's vendors' capability to give advertising and product support at historic levels; limitations on the organization's ability to buy and sell preexisting video games; possible reduction in prevalence of certain kinds of video games; fluctuations in the organization's international tax rate; possible future litigation and other legal proceedings; changes in accounting regulations and rules; as well as the organization's ability to comply with national, state, local and global law. Additional factors that may cause our results to differ materially from those represented or clarified in the statements that are senile are located at GameStop's Annual Report on Form 10-K for its financial year ended February 1, 2020 that the subsection entitled"Risks Related to Our Business" of Item 1A of that was amended and restated in GameStop's Current Report on Form 8-K registered on June 5, 2020 and our other filings made from time to time with the SEC and available at the SEC's Internet website at http://www.sec.gov or even http://investor.GameStop.com. Forward-looking statements within this release speak only as of the date of the release. The business undertakes no duty to publicly update any forward-looking announcement, whether as a result of new information, future developments or otherwise, except as might be required by any applicable securities laws. Notes selected for redemption should be surrendered to the trustee in exchange for the payment of the redemption price as more completely explained in the notice of salvation delivered to the registered holders of Notes selected for redemption. General info about GameStop Corp. can be obtained in the organization's corporate site. Follow @GameStop and @GameStopCorp on Twitter and locate GameStop on Facebook in www.facebook.com/GameStop Around GameStop Jim Bell, GameStop's principal financial officer, stated,"The voluntary early redemption of $125 million in senior notes is consistent with our approach to do actions that reinforce and increase our balance sheet, enhance our profile and maximize our capital structure. Within the previous 18 months, we've remained steadfast in our focus on developing a more efficient business model which, regardless of the consequences of a worldwide pandemic, maximizes working funds, creates free cash flow and will benefit from future growth in video gambling and amusement. Employing money generated from operations to reduce outstanding debt is reflective of our success in changing our business design and marks progress toward placement GameStop for continuing long-term profitable growth" This voluntary early salvation covers roughly 63 percent of the outstanding Notes.