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AMAZON.COM, INC.

(AMZN)
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Factbox: How Amazon trained GameStop's new chiefs in e-commerce

06/09/2021 | 06:59pm EDT

(Reuters) - Videogame retailer GameStop Corp on Wednesday tapped executives who cut their teeth at Amazon.com Inc to lead the transition of its business to e-commerce. Here's a look at their time at the world's largest online retailer:

MATT FURLONG, GAMESTOP'S NEW CEO

** Furlong took over Amazon's nascent business in Australia in May 2019, according to his LinkedIn profile.

** He joined Amazon in 2012, his profile shows. Before Australia, Furlong worked across the company's e-commerce business, managing vendors, overseeing consumer electronics retail and advising a member of Amazon's senior leadership team.

** Under his watch, net sales roughly doubled in 2020 to A$1.12 billion ($867 million) from the year prior for Amazon Commercial Services, which operates the company's Australian e-commerce site, according to a local securities filing.

** Amazon's Australia business posted a net loss of A$3.8 million ($3.0 million) in 2020, slightly narrower than the year before, the filing shows.

** Furlong's time down under was also a period of stepped up investment. The business nearly tripled its spend on property and other investing activities to A$72.0 million ($55.6 million) in 2020, according to the filing.

** Launched in 2017, Amazon's marketplace in Australia only generates a fraction of the company's revenue - U.S. sales were some 300 times larger in 2020 - and it has faced a challenge https://www.reuters.com/article/us-australia-amazon-com/in-australia-amazon-is-still-finding-its-way-idUSKBN1FP0FC delivering to a small population dispersed on a continent about the size of the mainland United States.

MIKE RECUPERO, GAMESTOP'S NEW CFO

** Recupero this year ascended to chief financial officer of Amazon's North America consumer business, according to his LinkedIn profile. That division handles what Amazon is most famous for: e-commerce and package delivery.

** At Amazon for about 17 years, Recupero worked in financial roles across a wide array of the retailer's businesses: transportation, digital advertising, European consumer and video streaming, his LinkedIn profile shows.

** He formerly was chief financial officer for Prime Video, Amazon's content streaming service. The unit is a key part of Amazon's customer acquisition strategy. By spending on original television shows, Amazon entices consumers to join or stay members of its loyalty club Prime so they can access those programs.

(1 Australian dollar = $0.77 U.S.)

(Reporting By Jeffrey Dastin in San Francisco, editing by Peter Henderson and David Gregorio)

By Jeffrey Dastin


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 0.35% 3650.615 Delayed Quote.11.70%
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) -0.07% 0.92619 Delayed Quote.-5.53%
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) 0.13% 81.363 Delayed Quote.2.07%
AUSTRALIAN DOLLAR / NEW ZEALAND DOLLAR (AUD/NZD) -0.16% 1.05533 Delayed Quote.-1.33%
AUSTRALIAN DOLLAR / SWISS FRANC (AUD/CHF) -0.06% 0.67755 Delayed Quote.-0.91%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.24% 0.73594 Delayed Quote.-4.47%
BRITISH POUND / AUSTRALIAN DOLLAR (GBP/AUD) 0.10% 1.86855 Delayed Quote.5.05%
EURO / AUSTRALIAN DOLLAR (EUR/AUD) 0.17% 1.59801 Delayed Quote.1.09%
GAMESTOP CORP. -1.59% 175.47 Delayed Quote.849.31%
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Financials (USD)
Sales 2021 490 B - -
Net income 2021 29 050 M - -
Net cash 2021 78 508 M - -
P/E ratio 2021 65,3x
Yield 2021 -
Capitalization 1 835 B 1 835 B -
EV / Sales 2021 3,59x
EV / Sales 2022 2,98x
Nbr of Employees 1 298 000
Free-Float 82,4%
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Last Close Price 3 638,03 $
Average target price 4 249,73 $
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Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
Jonathan Jake Rubinstein Lead Independent Director
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