GameStop (GME) is hosting a “Trade Anything Day” on December 6. The promotional event will allow customers to bring almost any physical item to a GameStop (GME) store and trade it in for $5 in store credit. “We look forward to seeing the whackiest items you can bring!,” updated the retailer.
The promotion appears designed to encourage foot traffic and engagement, expanding GameStop’s (GME) usual buyback format for one day only. The event has already attracted some buzz on social media from potential customers and purported employees.
Participants may only bring one item per customer, and the object must fit within a 20-by-20-by-20-inch box. Store employees reserve the right to reject items based on company guidelines. Certain items are specifically excluded or prohibited, such as hazardous materials, weapons, lithium-ion batteries, most computers and accessories, certain electronics, alcohol, tobacco, drugs, any live or dead animals (except taxidermy), jewelry, gift cards, currency, sexually explicit items, and objects resembling body parts.
GameStop’s (GME) current strategy is built around high-margin collectibles, a leaner retail footprint, and disciplined capital allocation. While GameStop (GME) has a very large cash hoard ($8.7 billion at the end of Q2), it has not made any strategic investments and acquisitions. The Grapevine, Texas-based company is due to report Q3 earnings on December 9 and update on its cash position.
Shares of GameStop (GME) were up 2.9% in premarket trading to $22.25. The stock is down about 30% on a year-to-date basis.