Gamestop (GME-5.3%) will rebrand its subsidiary EB Games in Canada. About 4,000 Canadian locations and the online store will assume the Gamestop name and brand by the end of the year.
Gamestop previously competed with EB games (Electronic Boutique) until it bought the company in 2005 for over $1 billion. The brand currently operates as the largest video game retailer in Canada.
"This decision follows our receipt of feedback from our valued customers and stockholders," commented Gamestop in a press release. The move comes as Gamestop attempts to consolidate the brand and shift towards e-commerce under new Chairman Ryan Cohen.