(Bloomberg) — GameStop Corp. jumped as much as 27% after a strategic partnership with Microsoft Corp. gave investors fresh optimism that the video-game retailer can turn around its business.
Under a multiyear agreement, GameStop will use Microsoft’s cloud services to handle business operations, including finance, inventory and e-commerce, according to a statement Thursday. In-store workers also will use Microsoft Surface devices while they’re helping customers. And GameStop will offer Xbox All Access, a monthly service for the Xbox gaming console.
GameStop is expected to get a surge in sales when new video-game consoles arrive in coming weeks, and the Microsoft partnership could help them extend the momentum. A new Xbox and Sony PlayStation are debuting next month, which should drive traffic to GameStop’s stores and e-commerce site.
Longer term, GameStop faces a tough challenge. Video-game companies are relying less on physical media and increasingly