Grapevine, Texas – Video game retail store chain GameStop (NYSE: GME) on
Thursday announced that its board of directors has authorized $500 million in
additional repurchase funds.
The company previously announced a $300 million
stock buyback program in January.
The new funds will be split between an
additional $300 million allotted to share repurchasing, while the remaining
$200 million will be used to retire the company’s senior notes.
confidence in the business to continue delivering consistent cash flow, which
gives us the ability to invest in our core business, digital initiatives and
enhance shareholder value," said GameStop CEO J. Paul Raines.