GameStop’s Ryan Cohen Says He’s Focused on Profits, Not ‘Hype’

GameStop Corp. Chief Executive Officer Ryan Cohen told investors he’s focused on achieving profitability at the ailing video game retailer and plans to avoid the “hype” that has buffeted the shares to extremes as part of the meme-stock frenzy.

“Revenue without profits and prospects of future cash flow are of no value to shareholders,” Cohen said in brief remarks at the company’s annual shareholder meeting on Monday, after it had been postponed following technical difficulties last week. “This means a smaller network of stores with an expanded assortment of higher-value items that fit into our trade-in model.”

The Chewy Inc. ...