Business
GameStop Announces $2 Billion Buyback Following eBay-Linked Selloff; Q1 Sales Rise 14% on Collectibles Strength
📅 June 02, 2026 23:00 ET
⏱ 1 min
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GazetaDay Editorial
GameStop reported a 14% increase in first-quarter sales, driven by strength in its collectibles segment, and announced a $2 billion share buyback program following a selloff linked to its recent deal with eBay.
Buyback and Share Price Context
The videogame retailer's board authorized a $2 billion stock repurchase plan. The announcement comes after GameStop’s shares declined sharply following news of its partnership with eBay, which had raised investor concerns about the company's strategic direction. The buyback is intended to signal management’s confidence in the business and return capital to shareholders.
First-Quarter Sales Performance
GameStop posted a 14% sales gain in the first quarter, a result the company attributed primarily to growth in its collectibles category. The videogame retailer did not provide full quarterly net income or earnings-per-share figures in the statement, but highlighted that the sales increase was broad-based across its product lines.
Market Context
As of June 02, 2026, current market data show the Russian ruble trading at 72.56 against the US dollar (change: +1.01) and at 84.61 against the euro (change: -1.64). Bitcoin is priced at $66,529, down 5.9% over the past 24 hours. Crude oil is estimated at approximately $72 per barrel.
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