The Canadian arm of EB Games is going to change its branding to GameStop Canada moving forward.
As revealed by the latter on Twitter, the new name will take effect by the end of the year for stores in Canada. There's no word as to why the company has made this decision, but it is apparently the result of "feedback from our valued customers and stockholders." In practicality, it is likely an attempt to simplify the company's branding.
GameStop has owned Electronic Boutique since 2005, when it bought the firm for a cool $1 billion.
This news comes in the wake of a rather tumultuous year for GameStop. 2021 started with the company's stock reaching absurd heights thanks to members of the r/WallStreetBets subreddit figuring out that GameStop shares were being shorted to insane levels.
The company announced that CFO Jim Bell was stepping down in February, but reports emerged later that he was being forced out. GameStop CEO George Sherman also stepped down in April, but is doing so with a $179 million golden parachute thanks to the elevated share price.
Replacing him as chief executive officer is Amazon vet Matt Furlong, while "activist investor" Ryan Cohen has taken the chairman position.