In a surprising admission, GameStop CEO Matt Furlong's predecessor, George Sherman, has been replaced by Matt Cohen, who is now at the helm of the struggling video game retailer. Despite acknowledging that GameStop is a "lousy business," Cohen claims to have found a way to make it work. With the rise of digital game distribution and the decline of physical game sales, many had written off GameStop as a relic of the past. However, Cohen's unconventional approach and willingness to adapt may have given the company a new lease on life, and investors are eager to see if his strategy can pay off.
GameStop is a lousy business, which CEO Cohen readily admits, but somehow he has made it work.
